As the current bear market in crypto continues to deepen, Bitcoin has fallen by 78%, and Ethereum by 82%. Yet elsewhere in the crypto market, many altcoins are down by as much as 96% or more. In a recent video, Elliott Wave International Currency & Crypto Analyst Jason Soni sheds some light on why this occurs and what this could mean for various cryptocurrencies. Breaking Down Why Some Crypto Assets Crash More Than Others Bitcoin price has retraced by more than 78% from all-time highs set back in 2021. Ethereum, the second-largest cryptocurrency by market cap, saw an approximately 82% retracement from peak to trough thus far. As you move down the ranks of cryptocurrencies, the total drawdown figures deepen. Cardano, for example, suffered a 92% collapse compared to the top two cryptocurrencies. Solana, once pegged to disrupt Ethereum, dropped by a staggering 96%. Related Reading: Bitcoin Price Prediction: What Elliott Wave Theory Suggests Is Next For BTC In a new video entitled “Looking at Opportunities for the Next Crypto Bull Market,” Elliott Wave International Currency & Crypto Analyst Jason Soni touches on why – th ..
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