Echoes Of Crashes Past, But With A Muted Roar<\/strong><\/h2>\nSeasoned crypto veterans might be experiencing a sense of deja vu. The scene: altcoin prices<\/a> in freefall, portfolios hemorrhaging value. The twist? This bear market, while no less brutal in its outcome, lacks the ferocious speed of its predecessors. Unlike the gut-wrenching plunges witnessed during the 2020 pandemic crash, the current decline is a slow burn, dragging on for months.<\/p>\nWhile the current situation might seem bleak, there’s a crucial distinction from past crashes, explains Daan Crypto. The drops are significant, but they’re happening at a slower pace.<\/a> This could indicate a more drawn-out correction phase for the market.<\/p>\n\nAt this point alts have come down about 40-90%.
\nAlthough it wasn’t as violent as during the covid crash, the end result has been roughly the same for many coins.<\/p>\n
We’re just doing everything slower this time around.<\/p>\n
Thing is, back then alts had barely moved up until that point.\u2026 pic.twitter.com\/xSxzme3IlH<\/a><\/p>\n\u2014 Daan Crypto Trades (@DaanCrypto) June 18, 2024<\/a><\/p><\/blockquote>\n![\"\"](\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/A_07bdf0.png?resize=1024%2C632\")
<\/p>\n
This measured descent presents a double-edged sword for investors. While it offers a (somewhat) less terrifying experience, it also extends the period of financial pain. The silver lining, according to Daan Crypto, lies in the muted highs altcoins reached before the crash. Unlike previous cycles where altcoins skyrocketed before plummeting, their pre-crash performance this time around was more tempered.<\/p>\n
The relatively lower highs suggest the market might not be as overheated as in the past. This could mean a potentially faster recovery once the correction runs its course.<\/p>\n![](\"https:\/\/www.tradingview.com\/x\/US0VYFdj\/\")
BTC is now trading at $65,112. Chart: TradingView<\/a><\/figcaption><\/figure>\nDeja Vu Or Deja Boom? Analyst Sees Echoes Of 2020<\/strong><\/h2>\nLooking beyond the immediate altcoin<\/a> downturn, Daan Crypto draws parallels between the current market and the events of 2020. The analyst points to the strong performance of the market in 2023, particularly impressive for a year following a bear market. This mirrors the robust performance of late 2019, which preceded the 2020 crash.<\/p>\n![\"\"](\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/A_054473.png?resize=868%2C300\")
Source: TradingView<\/a><\/figcaption><\/figure>\nIf we compare 2023 to 2019 and 2024 to 2020, there are some interesting similarities, the analyst observes. Just like 2020, which witnessed a mid-year slump followed by a strong year-end recovery, 2024 might be following a similar trajectory.<\/p>\n
While the current situation might seem bleak, there’s a crucial distinction from past crashes, explains Daan Crypto. The drops are significant, but they’re happening at a slower pace.<\/a> This could indicate a more drawn-out correction phase for the market.<\/p>\n At this point alts have come down about 40-90%. We’re just doing everything slower this time around.<\/p>\n Thing is, back then alts had barely moved up until that point.\u2026 pic.twitter.com\/xSxzme3IlH<\/a><\/p>\n \u2014 Daan Crypto Trades (@DaanCrypto) June 18, 2024<\/a><\/p><\/blockquote>\n This measured descent presents a double-edged sword for investors. While it offers a (somewhat) less terrifying experience, it also extends the period of financial pain. The silver lining, according to Daan Crypto, lies in the muted highs altcoins reached before the crash. Unlike previous cycles where altcoins skyrocketed before plummeting, their pre-crash performance this time around was more tempered.<\/p>\n The relatively lower highs suggest the market might not be as overheated as in the past. This could mean a potentially faster recovery once the correction runs its course.<\/p>\n Looking beyond the immediate altcoin<\/a> downturn, Daan Crypto draws parallels between the current market and the events of 2020. The analyst points to the strong performance of the market in 2023, particularly impressive for a year following a bear market. This mirrors the robust performance of late 2019, which preceded the 2020 crash.<\/p>\n If we compare 2023 to 2019 and 2024 to 2020, there are some interesting similarities, the analyst observes. Just like 2020, which witnessed a mid-year slump followed by a strong year-end recovery, 2024 might be following a similar trajectory.<\/p>\n\n
\nAlthough it wasn’t as violent as during the covid crash, the end result has been roughly the same for many coins.<\/p>\n<\/p>\nDeja Vu Or Deja Boom? Analyst Sees Echoes Of 2020<\/strong><\/h2>\n