The peak capped a year of 20x gains and introduced millions of retail investors. The subsequent 80% drawdown to $3,200 by December 2018 defined the first real 'crypto winter'. Most 2017 entrants exited at a loss; those who held are now early. A new generation discovered that being right directionally requires also being right about timing.
market·December 17, 2017
Bitcoin First $20k Peak
BTC reaches $19,783 on Coinbase, retreats. Mainstream media covers crypto for the first time at scale.