The analytics provider Ecoinometrics has published a tweetstorm that shows the current downward spiral from bitcoin’s all-time high is one of “the longest drawdowns bitcoin has had to deal with during a post-halving bull market.” Furthermore, the same day, analyst and economist, Julio Moreno, highlighted in a recent blog post that “in bitcoin, volatility is your friend.”
Analyst Discusses Bitcoin’s Second Longest Drawdown Before the Next Price Move
Most people in the industry understand that bitcoin (BTC) prices have seen better days and many spectators are wondering when the crypto asset will rebound. The fact of the matter is, we really don’t know, but people do leverage previous chart patterns from prior bull markets and have measured a number of timespans.
In recent times, Bitcoin.com News has published at least two market reports that show speculators believe this bull run resembles the action that took place in 2013. According to the analytics provider Ecoinometrics, the current downturn is the