Bitcoin’s (BTC) market tendency to crash by over 80% after logging strong bull runs might come to an end.
That is according to a new report published by California-based hedge fund Pantera Capital. In detail, the report notes that the recent periods of BTC price drops have been less severe than in the past.
For instance, in 2013–2015 and 2017–2018, Bitcoin crashed by as much as 83% after topping out near $1,111 and $20,089, respectively. Similarly, the cryptocurrency’s bull run in 2019–2020 and 2020–2021 led to massive price corrections. Nevertheless, the scales of their retracements afterward were -61% and -54%, respectively.
Bitcoin bull and bear markets across its history. Source: Pantera Capital
Dan Morehead, CEO of Pantera Capital, highlighted the consistent drop in selling sentiment after the 2013–2015 and 2017–2018 bearish cycles, noting that future bear markets would be “shallower.” He explained:
I long advocated that as the market becomes broader, more valuable, and more institutional the amplitude of prices swings will moderate.
The statements appeared as Bitcoin renewed its bullish strength to retest its current record high near $65,000.
BTC/USD rallied above $60,000 for the first time since early May as the United States Securities and Exchange Commission approved the first Bitcoin exchange-traded fund (ETF) after years of rejecting similar investment products.
The approval of ProShare’s Bitcoin Strategy ETF raised expectations that it would make it easier for institutional investors to gain exposure in the BTC market. That also helped Bitcoin wipe almost all the losses incurred during the April–July bear cycle as BTC’s price doubled to reclaim levels above $60,000
What is Btc Price Future?
It's turning out to be progressively normal to hear $100,000 valuations as Bitcoin develops to turn into a standard monetary resource, with its first ETF endorsement appearing to be ok around the bend.
Posted Using LeoFinance Beta
Fortunately, I'm not a fan of btc 😁
lol bitcoin can’t be stopped shitcoins can’t compete! It’s fun watching them bleed out against the only currency that matteda
Fun or annoying? I don't have Btc 🤣🤣🤣
Oh so much fun, love seeing shitcoiners justify their stupid projects! Well good luck with that, we all have to make our own mistakes
I remember Netscape saying something similar. Nokia too.
That’s such a intellectually lazy analogy as if being the first means you’re doomed to fail! You can rationalize all you want, but bItcoin isn’t going anywhere
To put it an analogy similar to yours, TCP/IP, was never replaced! The protocol was launched with the dawn of the internet,hasn’t changed or been replaced
Being first DOES mean you are doomedd to fail. Historically no first mover product has ever made it to the mature stage of a market sector. This is because technology always improves on any prototype ...and to do so the prototype gets worked on and improved. For this not to be the technology would stop dead in its tracks and it would be the Black Swan to end all Black Swans. You would have to start living in a world that would be similar to the religious "utopias" such as the Amish have.
TCP/IP is not one product but a suite of protocols that are considered to be "standards" that is continually being added to ....even today crypto products are being added to the list of standards that compose the TCP/IP suite, Syntropy (NOIA) being the most famous.
Impossible is nothing..
Well I see it achieving a new support butt not as low as 80%..
If you look at the weekly BTC charts you can see record length green candles. That is just not sustainable. You'd have to be incredibly naive to think that it can keep on going this way. It's going to be a painful ride down for many.
Hahaha there is this guy in my country on Instagram called Bitcoin chief, he is similar and have big high hopes. I really don't care as I don't have Bitcoin but I just so scared about altcoins.
This is a great and instrutive advice, Alot of people pay to hear this. Thanks a lot, I will take with both hands.