Analyst zackvoell shares 'Bitcoin Bear Market' model: $BTC bottom might not be reached yet Bitcoin
This model tracks the performance of Bitcoin in 2011, 2013-2015, 2017-2018 and during the ongoing cycle that started in November 2021.
It looks like the two last cycles have stolen over 80% of Bitcoin's peak price. Should history repeat itself, Bitcoin might bottom at $13,800.Meanwhile, the 2011 bearish cycle resulted in a 95% Bitcoin price drop. However, it happened when Bitcoin adoption was still in its infancy.Commentators on Mr. Voell's post are excited by the upcoming"buy the dip" opportunities as the digital gold might become even more affordable.
Despite the pale performance, Bitcoin managed to become the most profitable of all assets in Q3, 2022.
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