This is a follow up to a post on the current Bitcoin crash. Although Bitcoin appears to have "bottomed" there historical precedent available that may lead to a clue hinting that the bottom is not in.
The previous Bitcoin bubble ended in a period of 3 phased correction before it entered a time of accumulation. Although some argue that today is different and Bitcoin has more buyers and the institutional players are here finally, those statements do not necessarily eliminate the possibility that Bitcoin may need an additional accumulation phase prior to making a push to new highs.
Bitcoin wasnt popular that time. Time has changed I belive.
Artesp
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@SerhatCergun, It is popular, yes, but has the following handicaps now: 1- No new Credit Card money available this time. 2- Many people got beaten up hard, & they may not come back. 3- The USDT time ticking bomb is still lurking in the horizon. 4- All bubbles need a consolidation period as stated in the main comment, after the crash, this may take a few months to recover. Time frames will be reduced in this recovery, I agree on that. But still, it will not recover in days.
UpsetPorpoise
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@SerhatCergun, I know that argument. I agree Bitcoin is a lot more popular nowadays. I remain neutral but do believe in market cycles.