Tough Winter Ahead? Following the crypto market crash, doomsday predictions have begun floating around. Analysts see a plunge similar to the crypto crash of 2018, when most coins fell by about 90%.
Far bleaker predictions point toward a situation similar to the 1929 stock market crash, which led to a collapse in stock prices and was among the chief reasons for the Great Depression that followed. The largest sell-off in the U.S. stock market history occurred on Oct. 24, 1929 – a day known as “Black Thursday.”
Bitcoin could plunge below the $30,000 level in 2022, as the crypto bubble bursts, the Markets Insider reported, citing Paul Jackson, Invesco’s global head of asset allocation. The analyst assigned a 30% probability of the apex currency breaching the level.