What if you bought Avalanche (AVAX) at its 2021 all-time high?
This uses real data to show what would have happened if you had invested a lump sum in Avalanche (AVAX) on November 21, 2021 — its all-time high of about $146 at the peak of the altcoin mania. We honestly examine the severe drawdown after buying an altcoin at a record high.
⚠️ Know the risk first
AVAX plunged roughly 90% from its peak after the record high. Judging the final result honestly requires viewing that severe drawdown and long loss period together.
⚠️ This asset is an individual stock chosen as of today, so past returns can look better than they really were (survivorship bias).
What happened that day
On November 21, 2021, Avalanche (AVAX) hit its all-time high of about $146. It soared amid the 2021 altcoin mania on 'next Ethereum' hopes, then plunged roughly 90% from its peak in the ensuing crypto winter.
Why this date
The buy date is the all-time-high day at the peak of the altcoin mania, computing the worst-timing question 'what if you bought at the top of the frenzy.'
Investment conditions
Asset · Avalanche (AVAX) · lump-sum on its 2021 all-time-high day, then held long-term
Method · Lump-sum (all at once)
Period · 2021-11-21 ~ 2026-07-01
Amount · $7,407
As of · 2026-07-01
Key metrics
These results do not reflect taxes. Based on historical data.
Buy and final prices are shown in the asset's local currency (US & crypto $, Japan ¥, Korea ₩). Total invested and final value are in Korean won (₩).
Risk & recovery
As important as returns. This service does not hide maximum drawdown or loss periods.
Maximum drawdown (MDD)
-95.6%
Largest drop from peak
Longest loss period
57months
Months in loss: 57
Recovery period
0months
Growth over time
Invested principal (dashed) and portfolio value (solid). Values below match the calculation.
Total invested $7,407 → Final value $384 (-94.8%), Maximum drawdown (MDD) -95.6%
Why this period and asset
November 21, 2021 was the day Avalanche (AVAX) hit its all-time high of about $146. Amid the late-2021 altcoin mania, hopes of a 'next Ethereum' sent the price soaring to a peak. But in the ensuing 'crypto winter' — 2022 rate hikes plus the Terra/Luna collapse and FTX bankruptcy — AVAX, like most altcoins, plunged roughly 90% from its peak. Buying on this date means buying at the exact top of the mania.
Interpreting the result
If you bought on the all-time-high day itself and never sold, the final value and the maximum drawdown in the metrics below are the core of this event. Always check whether you recovered the price paid at the record high, and how far it fell. Crypto, and altcoins especially, carry volatility incomparably larger than an index or large-cap stock. Investing gradually each month instead of all at once would have reduced the risk of concentrating your buy at the top, but the extreme volatility itself does not disappear.
Caveats & limits
Buying an altcoin at a record high is an extreme peak-buying case. Don't look only at the final return — always review the roughly 90% drawdown and long loss period. Picking only coins that survived and partially recovered creates an illusion; far more altcoins that surged in the same mania disappeared. Crypto carries 24-hour extreme swings and major regulatory/exchange risk. The source data is in USD and excludes exchange rates, fees, and taxes. Past results do not guarantee the future.
Event fact sources
- CoinGecko — Avalanche (AVAX) all-time high, 2021-11-21
- MoonPay — Avalanche price history (2021 ATH ~$146)
Requested date vs actual trading date
Crypto trades 24 hours, so the holiday concept is weak, but on data gaps the next valid day's close is used. The 'effective trading date' below is the date actually used.
Data sources & limits
- Price data source: Yahoo Finance / FinanceDataReader
- Collected on: 2026-07-28
- Effective trading date: 2026-07-01
- Price basis: Adjusted close (reflects dividends and stock splits)
- This asset is an individual stock chosen as of today, so past returns can look better than they really were (survivorship bias).
- Trading fees and taxes are not reflected — figures are pre-tax.
- Based on historical data; does not guarantee future returns.
Frequently asked questions
Was that really AVAX's all-time high?
Yes. Avalanche hit its all-time high of about $146 on November 21, 2021 (intraday peak around $146–147). It was around the peak of the 2021 altcoin mania.
How far did it fall afterward?
In the crypto winter that followed, AVAX plunged roughly 90% from its peak. Check the scale in the maximum drawdown metric below. Anyone who bought at the record high had to endure a severe loss period.
Does holding always lead altcoins to recover?
No. AVAX is just a case that survived; far more altcoins that surged in the same mania disappeared. Be wary of the illusion of picking only the survivors (survivorship bias). This page recommends no coin.
Are FX and taxes reflected?
No. The source data is in USD and excludes exchange rates, fees, and taxes. This page only shows historical data and recommends no specific asset.
Related scenarios
📋 Results are based on historical data; past returns do not guarantee future returns.
📋 This service is provided for educational purposes to help you understand investing, not as investment advice.
⚠️ Calculated using today's representative assets, which may differ from the market composition at the time.