Bitcoins Biggest Crashes
We compare Bitcoin's recent 30% price drop to previous crashes like COVID (March 2020), Terra/Luna (May 2022), and FTX (November 2022), discussing market sentiment, recovery patterns, and whether Bitcoin behaves as a risk-on or risk-off asset.
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Show Notes
How do previous Bitcoin crashes compare to this week’s Tariff Troubles? Colin and Charlie analyze Bitcoin's recent 30% drop from $109K to $76K in context of previous market crashes. We compare the COVID crash of 2020, the Terra/Luna collapse of 2022, and the FTX insolvency that same year. They discuss how market sentiment differed between crashes despite similar percentage drops, explore how "exogenous" vs "endogenous" factors affected recovery, and debate whether Bitcoin behaves as a risk-on or risk-off asset. The conversation includes personal anecdotes about experiencing these market downturns and predictions for Bitcoin's future.
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Notes:
- Bitcoin down 30% from $109K to $76K
- Markets recovered 9.5% in one day
- Terra/Luna crash: 35% drop in one week
- FTX collapse: only 30% drop but worst sentiment
- US fiscal deficit at $36.7 trillion debt
- BitMEX "outage" may have saved 2020 crash
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Timestamps:
00:00 Start
00:46 Bitcoin crashes, don't buy it
06:25 Macro lookback
14:00 Covid crash (march 2020)
22:45 Arch
23:18 Terra Luna crash (may 2022)
32:16 FTX Crash
38:43 Stay humble, stack sats
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