Bitcoin (BTC) hasn’t been doing all too hot over the past five months. Since June, the leading cryptocurrency has cratered by almost 50%, collapsing from a year-to-date high of $14,000 to $8,500, where it sits today. BTC fell as low as $7,300 just three weeks ago.<\/p>\n
Sure, a 40% drawdown isn’t the end of the world. Though, considering that countless investors were calling for a bull run just months ago, this drop has harrowed many a trader. In fact, some have ventured to say that Bitcoin’s long-term uptrend, which brought it from the doldrums of irrelevancy (like sub-$1 irrelevancy) to $20,000 and down once again, is coming to a close<\/a>. In other words, they say that BTC is peaking, and it’s all downhill from here.<\/a><\/p>\n Though, an excerpt from a report from a top markets research firm suggests that Bitcoin’s long-term uptrend “remains intact.”<\/p>\n David Martin, the CIO of Blockforce Capital, recently shared<\/a> some of a report from Delphi Digital<\/a>, in which the research boutique says that “[although] short-term sentiment gauges have rolled over, the longer-term uptrend still remains intact.”<\/p>\n love the weekly recap @Delphi_Digital<\/a> pic.twitter.com\/OzqnLe8f0J<\/a><\/p>\n — David Martin (@cryptoquantopia) November 15, 2019<\/a><\/p><\/blockquote>\n\n