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👀 #Bitcoin is around 23% off its all-time high. So why does it feel worse than it is? Maybe because this is the second longest run of RED weekly candles in #BTC's history! Big difference compared to back then, both times before were deep into a #crypto bear market. https://t.co/bgDC7Qw0GQ
Bitcoin is 23% off its all-time high. So why does it feel worse than it is? 👉This is the second longest run of RED weekly candles in Bitcoin history! Both times were deep into a bear market. https://t.co/CHeFykJMx1
Depressing fact: Bitcoin is down 23% in the last 49 days Fun fact #1: In 2017 Bitcoin witnessed 12 similar pullbacks Fun fact #2: In 2021 Bitcoin witnessed 9 similar pullbacks Pullbacks are common during bull markets and this is not the peak Relax 🥛 https://t.co/CXYn8o2Fkv
Bitcoin has experienced a significant downturn, with a 23% drop from its all-time high over the last 49 days, marking its second longest run of red weekly candles. This decline is part of a broader pattern observed in the cryptocurrency's history, including 13 pullbacks of over 20% during the 2015-17 bull market and multiple similar downturns in subsequent years. Despite these setbacks, historical data suggests that Bitcoin often recovers, as it has seen numerous rebounds after such pullbacks. Current market analysis indicates that Bitcoin may be poised for a bullish rebound amid fears of a global recession. This is the 5th pullback in the current bull run, and it took 48 days to reach the current low, with a multi-month recovery expected based on past trends.
