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BTC Bitcoin's Volatility History
Bitcoin is known for its high volatility and cyclical price fluctuations, and has experienced extreme retracements many times. In 2022, its price fell from nearly US$69,000 to just over US$15,000, a drop of 77%. In 2018, it fell from nearly US$20,000 to US$3000, a drop of 84%. A similar 85% correction occurred in 2014.
Every bear market comes with victims. Companies such as Celsius and BlockFi failed amid continued price declines. Blockchain.com, founded in 2011, is still standing and is reportedly planning an initial public offering in 2026. In an interview, co-CEO Lane Kasselman explained how the company remained operational even when the industry seemed to be dying.
"We request permission"
Kasselman believes that the fundamental problems of most bankrupt or bankrupt cryptocurrency companies do not stem from the high volatility of the industry. "FTX, Celsius and BlockFi, each has its own problems, many of which are related to exploiting legal loopholes." he said.
Blockchain.com sacrifices speed in new product launches and business expansion, focusing on keeping accounts clear and avoiding legal disputes. "We are slow to launch new products because we ask for permission. It means we get licenses from regulators and play by the rules,"Kasselman said. "In 2021, those companies will receive much attention due to their rapid growth. We are growing slower because we are operating legally."
Counter-cyclical strategy
"The reason why we have been able to withstand multiple market cycles in a decade-long period of extreme volatility is because we tend to adopt countercyclical business models," Kasselman explained. The first example of this concept occurred during the COVID-19 epidemic. At that time, all industries, including cryptocurrencies, experienced layoffs and downsizing. The day after the epidemic was announced, Bitcoin prices plunged 40%.
Blockchain.com took a different approach and hired new employees instead, believing the market would rebound quickly. Facts proved that this judgment was correct. Before the end of the same year, Bitcoin hit a record high.
The second example occurred in 2022, the 77% pullback period mentioned above. While most cryptocurrency companies are struggling to survive, Blockchain.com is raising new capital. During the bear market in 2022 - 2023, it secured at least $110 million in new financing.
"Everyone said we shouldn't raise money, but we did, and it turned out to be one of the best ideas ever." Kasselman said.
Long-term survival in the cryptocurrency field does not lie in choosing the right currency. For Blockchain.com, compliance reviews that strictly adhere to the legal bottom line and timing to go against the trend are not only the key to its survival in a continued bear market, but also the secret to its vigorous development.
In May 2026, multiple media reported that Blockchain.com had secretly submitted an initial public offering application. If successful, it will become the world's first cryptocurrency native company to be launched and traded on the open market, surpassing Coinbase, which was established in 2012.
