The 'great depression' after Oct. 25th 1929, aka 'Black Tuesday', was the stock equivalent to our bear market

Stock market didn't see anything like this again: Black Tuesday, the 25th of october 1929. The Dow Jones lost almost 90% of its value. As you can see, there has been a rally before. People were buying the dip but it dipped lower:

(Comparison: Dow Jones 1929 - BTC 2018)

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"Stocks crash in rush to sell: Billions lost" - could be a cointelegraph link posted on this sub:

https://preview.redd.it/2016p208hzp91.jpg?745&format=pjpg&auto=webp&s=b365e76257e766775d18d38c2d21e0ae192a92af

What caused it?

An estimated 25% of households had invested in Stock at the time. Due to a lack of experience and the faith in always growing markets after WWI is over, people even took loans to buy stock. Does that sound familar? Stock market wasn't regulated much. This led to a speculation bubble. [Wiki: the great depression]

Follow-up

Skyrocketing unemployment rates and bankruptcies followed. In the aftermath, our beloved SEC has been created (in 1934) to avoid crashes like this in the future. Franklin D. Roosevelt lowered wages for civil servants and raised taxes. The recovery of the Dow Jones took 20 years until it reached its ATH again (~1950). [Wiki: the New Deal]

What about crypto?

Some of you had more than one crashes like this in crypto. We did not always see a v-shape recovery like the Dow Jones had after 1932 - but in crypto, everything happens a little faster. Volatility comes with benefits: you will probably (!) not have to grow old to see new ATHs again.

So what can we learn from all this? There will be better times. Don't take loans. Don't risk more than you can afford to lose. Keep some USD for important errands - or buying the dip (with caution, just see above).

(photo from 1929: people waiting accross wall street, worried about their savings)

(I almost posted this with the title "black friday")