A widely followed crypto analyst says it is identified when Bitcoin (BTC) tends to bottom during bear markets.
The pseudonymous trader Rekt Capital recount its 328,000 Twitter followers that BTC is rapidly approaching its bottom, which is historically prone to form about a year after its previous bull market peak.
“Historically, BTC bear markets tend to find their absolute bottom around 365 days after the previous bull market peak.
It’s been nearly 300 days since the peak of the bull market, so if history repeats itself, BTC’s bottom is still at least two months away.
The analyst Remarks that as the best crypto asset by market capitalization bottoms out in the bear market, a time when traders should take advantage of the opportunity, investor sentiment centered around BTC is paradoxically negative.
“BTC is getting closer and closer to the end of its bear market downtrend, slowly reaching the point of maximum financial opportunity.
Paradoxically, this is the time when most investors are most discouraged, fearful, pessimistic about BTC.
Rekt Capital then said that it is important for investors to maintain a proactive rather than passive investment mindset.
“The question shouldn’t be ‘Will BTC hit new lows?’ “
The question should be ‘what am I going to do if BTC hits new lows?’
The first question represents a reactive and passive investment mindset
The second question represents a more proactive and nurturing investment mindset. »
The king of crypto is changing hands for $19,810 at the time of writing, down 1.8% in the last 24 hours.
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