With the price of Bitcoin sliding down 50% since the November peak, investor sentiment became increasingly negative, and the focus from making ATH predictions shifted to debates about its rebound potential.
The current crypto downturn shares the same broader context with the equity market slump, as tech stocks recently dropped to new 14-week lows.
But, while most agree that investor uncertainty was fuelled by the prospect of higher interest rates and political tension, with the Ukraine-Russia crisis heating up, can looking at the macros justify the fear of the 2018 bear market repeating itself?
How bad is it?
The fear of 2018 repeating itself crawled back into the bull-bear market debate.
“Macro-induced downturns have more structural similarities to March 2020 than 2018 (which was a crypto downturn during a very risk-on environment),” co-founder of the crypto hedge fund Three Arrows Capital (3AC), Zhu Su, commented on Twitter.
Reminder that macro-induced downturns have more stru
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