Too Long; Didn't Read
Bitcoin has had many crashes of 50-80% in its 13-year history. These sharp drops are often historically followed by 600-1000% gains. Most of these casualties borrowed too much money, forgot about diversification, and were unprepared for the drop. Some people had been sitting on “dry powder”, waiting for the crash, so that they could invest more funds at lower prices. Bitcoin dropped by 80% in June, followed by a massive rise in 2014, 2018 and 2022. Cryptocurrency movements were highly correlated with movements of tech stocks.