3 years have passed since BTC bottomed to 3.1K USD

3 years have passed since BTC bottomed to 3.1K USD


Bitcoin (Bitcoin) May fall below $50,000, but it has actually been three years since its bull market this month.

Data from Cointelegraph Markets Pro and Transaction view It is confirmed that the Bitcoin bulls have at least something to celebrate, because 2021 is coming to an end.

Three years, an increase of 2,125%

Despite disappointing year-end price expectations, BTC/USD is still an order of magnitude higher than the level 18 months ago.

March 2020 marked a brief return to near cyclical lows in the bull market that has been solid since December 2018. At that time, Bitcoin fell to a low of $3,100-a level that has never been seen before, and it may never happen again.

On December 15, 2018, Bitcoin ended its one-year retracement from its historical high of close to $20,000 at the time. Compared with this year’s peak of $69,000, BTC investors have thus obtained a gain of up to 2,125%.

The consolidation continued for several months thereafter, and April 2019 was a watershed, with the market climbing to a year-high of US$13,800.

The anniversary of the “bear market peak” comes at the right time, as analysts are weighing the possibility of consolidation and a slow upward movement Characterization The end of this year, the beginning of next year.

“Welcome to the hand-picking season,” Cointelegraph writer Michaël van de Poppe Summarize.

“The season when all the gains on day 1 were lost on day 2, everything was flipped/rolled over within 24 hours, and what people thought in the market.”

As Cointelegraph ReportSeptember 15th is another birthday of Bitcoin, and it spends more than $10,000 throughout the year.

BTC/USD 1-month candlestick chart (Bitstamp). Source: TradingView

Looking forward to “prosperous”

Although it is impossible for most market participants to rise to $20,000, analysts have not ignored the idea that Bitcoin will fall sharply again in the short term.

related: The analyst lists 21 factors that require bitcoin prices to rise-but only 4 bearish signs

For the popular trader Pentoshi, this can take another form Leverage cascade “Flushing” excessive speculation from the market.

The main support level is around 40,000 USD. Breaking this level will allow BTC/USD to challenge its decline since the collapse of the mining machine in May.

Conversely, the “maximum pain” situation would actually go up to $60,000, and traders filbfilb debate this week.