Canadian Crypto Observer

By Aditya Nain on December 3, 2025
Estimated reading time: 5 minutes

By Aditya Nain on December 3, 2025
Estimated reading time: 5 minutes

Despite a recent 35% drop, Bitcoin remains the top-performing major asset over five years, outpacing stocks, gold, silver, and Canadian equities.

Welcome to the Canadian Crypto Observer. Financial journalist and author Aditya Nain offers perspective on market-moving headlines to help Canadian investors navigate the cryptocurrency market.

If you follow the crypto market, you’ve probably heard that cryptocurrency prices fell through the floor over recently. In October and November, Bitcoin (BTC) crashed from a peak of about $124,000 to a trough of about $80,000 (all figures in US dollar unless otherwise specified). That’s a worrying fall of about 35% in a matter of weeks, driven to a great extent by lower expectations of further rate cuts by the U.S. Federal Reserve (The Fed).

Nonetheless, BTC has recovered slightly and is trading at about $87,000 at the time of writing this column. Before we begin to pronounce the death of BTC and other cryptocurrencies, it would help to put things into perspective by looking at BTC’s performance as an asset over the past five years—especially in comparison with other popular assets.

As the chart below shows, Bitcoin (BTC) has been in a cyclical bull market since November 2022, when it started rising off a low of about $16,400. Calculated at its recent high of about $124,000, that’s a gain of about 646% from trough to peak in almost three years—from November 2022 to October 2025.

Source: Google Finance as of Nov. 26, 2025

However, almost nobody is lucky enough to buy at the trough and........

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