Does this mean we need to go lower?
Bitcoin has yet to see a 30% draw-down since the lows of 2022
This is pretty surprising...
BItcoin hasn't seen a single 30% drawdown since we made those lows during this cycle.
Check it out:
(Source: https://x.com/BitcoinNewsCom/status/1805723695383519252/photo/1)
Right now we are in the midst of a 22% drop, does that mean it needs to go lower?
Maybe, maybe not...
We are about to find out.
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My feeling lately in the last couple years is it really hasn't gone as low as I seem to project which I used to be really good at that. I bought very close to lows for BTC, ETH, LTC, and DOGE in 2018 and 2019. Now it seems to have more support and the bear whales attempts don't seem to have as much power anymore.
That being said we are in a very precarious economic situation overall.