Since Bitcoin (BTC) hit public markets, the cryptocurrency has traded in multi-year cycles. Every few years, the asset runs parabolically, prior to a dramatic, nasty ~80% drawdown. In the eyes of most, BTC has done that twice or thrice by this point, not including the current crypto bear market.<\/p>\n
As Bitcoin<\/a> is currently ~80% down from its most recent all-time high, some are convinced that sell-offs are in the rearview mirror. One analyst even recently claimed that if BTC really bottomed in late-December, the timing was “perfectly on point,” when compared to historical pullbacks.<\/p>\n Roger Quantrillo recently explained that Bitcoin’s price action from late-2017 to early-2019 resembles the rally and subsequent collapse of BTC in the previous market cycle. More specifically, he noted that after BTC surpassed a long-term increasing trendline, it took the asset 434 days to hit a bottom in 2015.<\/p>\n Bitcoin: History doesn't repeat itself but it often rhymes..\ud83e\uddd0 Not exactly the same price action as 2014\/15 but in terms of Time perfectly on Point! Take a minute ore two and take a closer look please..tell me what you think?… @crypToBanger<\/a> #bitcoin<\/a> #btc<\/a> #btcusd<\/a> #crypto<\/a> pic.twitter.com\/WmImSYXN1l<\/a><\/p>\n — RQuantrillo (@rogerquantrillo) February 21, 2019<\/a><\/p><\/blockquote>\nBitcoin Bottom Might Already Be In<\/h2>\n
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