Why this crypto crash is different

This year has been the year that the. crypto industry really got everything it. wanted. Um, it got regulatory approval. with the election of Donald Trump. There's lots of real crypto digital. asset true believers now in the US. government. Um, and the price of Bitcoin. is down for the year. Uh, it's down. about 30% from its absolute high in. October. What I think is interesting. about this sell-off, if you just look at. this chart, so every time there's been a. big sell-off in Bitcoin, people who've.

owned it have at least been, you know, above the previous high, right? You. know, in in 2022, you saw a big selloff. in Bitcoin, but at least people who'd. bought early in 2020 or before then, they were still sitting on significant. gains. That was true again uh in the. sell-off that happened around tariffs. earlier this year. Now it's not true.