Autumn and winter in Bitcoin (#BTC)
In the bear market of 2014, the price of Bitcoin fell by about 87%.
Also, in the bear market of 2018, the price fell by 84%, which was 4% less than the bear market of 2014
Now in 2022, we have experienced a 77% drop so far.
The state of the global ecosystem in 2022 is very different compared to 2014 and 2018.
During each period, the drop of Bitcoin has decreased. Because the market cap and the amount of capital in the market have increased.
If Bitcoin wants to fall 80%, it will reach the price of about $13,800 and if it wants to fall to 84, it will reach the price of $11,000.
I'm not sure about reaching $11,000.
My trading system for finding price support to detect bottoms in Bitcoin is "Time". That is, it must reach the right time for Bitcoin to start moving.
#OC7611699
@OctopusAnalysis
