Technical side: Bitcoin weekly chart (BLX) - breaking through the long-term trendline (not the best signal), especially if you take into account the potential takes on declining according to Demark (I advise you to familiarize yourself with the Demark's trendlines). With all this, delving into the metrics, at this stage it is still difficult to imagine a decline to 5k, even considering the fact that most miners yesterday again entered the loss zone (if we take the median around the world), the mining industry shows good long-term prospects (the hashrate and difficulty are both growing up). A similar case with going beyond the long-term trendline was in 2014, but then the market went into a flat stage 2 years long.
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