The drawdown in the crypto market has seen new trends emerge in the market. With the recent crash, bitcoin has seen some first-of-its-kind movement. The implications for these are vast given that the digital asset’s future movements are being recorded. This has shown that the recent bear market is different from every single one that has preceded it.
Bitcoin Falls Below Cycle High
One trend that bitcoin has always followed has been the fact that its price has never fallen below its previous cycle peak. For all of the previous bear markets, this trend has held and has been a form of a beacon when it comes to calling the bottom of the bear market. This is why a lot of analysts had called the bitcoin bottom using this trend.
Now, though, for the first time ever, the price of bitcoin has fallen below its previous cycle peak. This happened when the price of the digital asset had broken below $20,000 and hit a low of $17,600. It has since recovered from this point but it had already set a...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...