Crypto Winter

Crypto winter is a term for a prolonged period of declining prices and reduced activity in the cryptocurrency market, similar to a "bear market" in traditional finance but typically lasting longer. Notable crypto winters occurred in 2014-2015 (after the Mt. Gox collapse), 2018-2019 (after the ICO bubble), and 2022-2023 (after the Terra/LUNA collapse and FTX bankruptcy). During a crypto winter, trading volumes drop, projects shut down, and investor sentiment remains deeply negative.