Happy ‘Beray’, Bitcoin: It’s been 3 years since BTC bottomed out at $ 3.1k
The “real” bear market pit for Bitcoin has brought patient BTC sellers over 2,000% profits since then.
Bitcoin (BTC) may dip below $ 50,000, but the bull market has actually lasted three years this month.
Data from Cointelegraph Marketplaces Professional and TradingView confirm that bitcoin bulls will at least have something to celebrate when 2021 comes to an end.
Three years, plus 2.125%
While BTC / USD is disappointing in terms of year-end price expectations, it is still an order of magnitude higher than it was 18 months ago.
March 2020 marked a return to near cyclical lows during a previously solid bull market since December 2018, when Bitcoin invested to its lowest low of $ 3,100 – an unprecedented level and likely never to come back.
THREE YEARS ON THE SAME DAY #Bitcoin AT THE BEAR MARKET 2018
– CRYPTO₿IRB (@crypto_birb) December 15, 2021
On December 15, 2018, Bitcoin completed a year-round retracement from its then all-time high of nearly $ 20,000. From this year’s high of $ 69,000, BTC investors saw an increase of 2,125%.
Consolidation took several months after that, and the market started in April 2019 as the market climbed to an annual high of $ 13,800.
The “Bärenspitze” anniversary comes at the right time as analysts weigh consolidation opportunities and the pace of cyclical growth slowdown later this year and early next year.
“Welcome to the busy season”, Cointelegraph employee Michaël van de Poppe summary.
“The season in which all profits are lost from day 1 to day 2 and everything tips / overturns within 24 hours is also everyone’s idea in the market.”
As Cointelegraph reported, September 15 made another birthday for Bitcoin by spending $ 10,000 year-round.
Hope for “flush”
While a profit of even $ 20,000 isn’t a card for the majority of market participants, analysts don’t disappoint with the notion that Bitcoin will fall significantly again in the short term.
Related: Analyst List 21 Factors That Are Driving Bitcoin Price Up – But Only 4 Signals Down
For the famous dealer Pentoshi, this could be in the form of Leverage excessive speculation from “discharging” the market.
Key support levels are around $ 40,000, and if breached, BTC / USD will challenge its decline since the mining run in May.
In contrast, a “maximum pain” scenario would actually be up to $ 60,000 higher, my fellow trader filbfilb Argue in this week.