RATE Group | Bitcoin Is Fearfully Following Former Bear Market Fractal, New Lows Possible
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Bitcoin Is Fearfully Following Former Bear Market Fractal, New Lows Possible

11 Jan Bitcoin Is Fearfully Following Former Bear Market Fractal, New Lows Possible

Posted at 00:20h in Bitcoin News by

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The cryptocurrency community was expecting Bitcoin to be off to the races working toward setting its next new all-time high once the first-ever cryptocurrency “bottomed” in late 2018, however, the recent downtrend has them thinking again.

According to a comparison between the current bear market and the 2014-2015 bear market, Bitcoin has clearly been following a similar trajectory, albeit on a different timescale. If the leading cryptocurrency by market cap continues to follow the same path, $3,000 wasn’t the actual bottom, and new lows may be in the months ahead.

Has Bitcoin Really Bottomed Or Will We See a Repeat of the 2014-2015 Bear Market?

Bitcoin is only eleven years young, and it’s had very little history in which to draw potential comparisons. The idea is that markets are cyclical, history repeats, and emotions are similar, so both rallies and even corrections can oftentimes take a similar shape.

But with Bitcoin, it only has had a few, small periods of drawdown, that…

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