When talking about the price of bitcoin these days, many tend to fixate on figuring out when cryptocurrency is going to make a comeback. However, it’s also worth remembering just how far it has fallen in merely the last six months.
After all, as the chart shows, it is beginning the month of March with its price sitting in the mid-$60k range. This price obviously marks a stark drop from the cryptocurrency’s October highs, when it was well over the $120k mark.
There’s a lesson to be learned from this significant drawdown. Even when it finally marks its comeback and approaches the attractive price levels that many have missed, it’s important for advisors and investors to be prepared for the future.
