#Bitcoin  bear markets are tough, but they have nothing on Japanese markets.

In the late 80's, Japan experienced a major bubble in stocks and real estate. Japanese stocks (the Nikkei 225) peaked on December 29, 1989, then had an awful drawdown of 82% over a 20 year period.

Today, the Nikkei 225 is working its way back to the levels it was at the peak of the bubble. A cool 33 years later.