Cryptocurrencies were mostly lower on Monday, although market conditions have stabilized following the weekend sell-off.
And in crypto markets, alternative coins such as ether, Polygon’s MATIC token and Solana’s SOL token have outperformed bitcoin over the past week, suggesting investors’ greater appetite for risk.
In a bear market, however, drawdowns can extend well beyond 30%, and the price can take several months to recover.
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Damanick is a crypto market analyst at CoinDesk where he writes the daily Market Wrap and provides technical analysis.
Tracy Wang is a senior reporter at CoinDesk.
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