(BTC() fell to $17.622 in June 18th. This marked the first time in Bitcoin’s history that it has It has fallen below the previous high of its cycle. The United States Federal Reserve’s aggressive monetary tightening, a crisis at crypto lending platform Celsius and liquidity issues at investment fund Three Arrows Capital are creating a sense of panic among traders.

Holger Zschaepitz is a Markets Commentator. He stated that Bitcoin had “rediscovered” its value. Four times the crash rate was greater than 80% in history. This puts the current drop of 74% in historical terms. Past bear markets reached their bottoms. Just below the 200-week moving meanAccording to Rekt Capital, the price is currently at a record low of 0.0001 USD. Bitcoin will not remain at its current, low level for long if the past repeats itself.