Crypto Winter
Extended bear market in crypto — characteristics, duration and what to do.
Crypto winter is an extended period of declining cryptocurrency prices, typically accompanied by reduced interest, project closures and mass investor exit.
Crypto winter characteristics:
•80-95% drop from ATH (all-time high)
•Duration: 1-3 years
•Media coverage drops dramatically
•"Crypto is dead" narrative dominates
•Talent leaves the space (temporarily)
•Speculative projects fail
Crypto winters in history:
2014-2015:
•Cause: Mt. Gox hack, regulatory fear
•Duration: ~14 months
•BTC drop: $1,147 → $152 (-87%)
2018-2019:
•Cause: ICO bubble burst, SEC crackdown
•Duration: ~13 months
•BTC drop: $20k → $3.1k (-85%)
•Ethereum drop: -94%
2022-2023:
•Causes: Fed rate hike, LUNA/UST collapse, 3AC bankruptcy, FTX collapse
•Duration: ~13 months to bottom
•BTC drop: $69k → $15.5k (-78%)
What to do in crypto winter:
•DCA strategy — buy at lower prices
•Use time for learning
•Check projects that survived (Lindy effect)
•Don't panic sell at bottom
•Reduce exposure to risky altcoins