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Last Time Bitcoin Did This Was 2018: THEN THIS HAPPENED! (buckle up!)The most recent such drop occurred in , when Bitcoin plunged by about 80 percent and took more than a year to recover to its previous high. "While the. Memories of the last crypto winter - a term that refers to a sharp slump - are renewing fears a repeat is currently playing out. Back then. Crypto has gone through several major drops in its history � known by its cognoscenti as �crypto winters� and to the rest of finance as a bear.