Looks like a pretty good bottoming indicator to me...

in #bitcoin2 years ago

Major Financial Outlets calling for Bitcoin to enter Bear Market Territory...

This probably means we are at or near a bottom.

In traditional markets, a 20% drop from the previous highs is considered a bear market.

Which, bitcoin is now down 20% from it's recent all time highs...

image.png

(Source: https://twitter.com/crypto_blkbeard/status/1464323364437336071/photo/1)

However, bitcoin isn't an ordinary asset...

It routinely drops 20-30% during bull market dips.

I suspect this is the last major one before a significant move higher, at least that is what all the past data and patterns are pointing to.

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