{"id":418974,"date":"2020-03-23T16:00:46","date_gmt":"2020-03-23T16:00:46","guid":{"rendered":"https:\/\/uniquehot.com\/?p=418974"},"modified":"2020-03-23T14:57:28","modified_gmt":"2020-03-23T14:57:28","slug":"historic-recurrence-will-bitcoin-bottom-at-its-previous-all-time-high","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/historic-recurrence-will-bitcoin-bottom-at-its-previous-all-time-high\/","title":{"rendered":"Historic Recurrence: Will Bitcoin Bottom At Its Previous All-Time High?"},"content":{"rendered":"

During Bitcoin<\/a>\u2019s last bear market, after crypto investors were convinced a bottom was in, the asset later broke down to set a new low \u2013 a low that coincided with the previous cycle\u2019s top.<\/p>\n

History often repeats itself, and with Bitcoin suddenly at prices, no one expected to see two years after a \u201cbottom\u201d was put in, a deeper fall to a previous peak cannot be ruled out.<\/p>\n

History Often Repeats, But Do Crypto Market Cycles?<\/h2>\n

Historic recurrence<\/a> is described as a phenomenon where strikingly similar events repeat over the years, and such instances have been recorded since the dawn of time.<\/p>\n

Like the planets orbiting the sun or the four seasons<\/a>, markets are also cyclical, and go through extended periods of downtrend, followed by growth and prosperity.<\/p>\n

Related Reading | Seasonality in Bitcoin: Will Spring Bring a Return of Growth to Cryptocurrency?<\/a><\/strong><\/em><\/p>\n

Bitcoin<\/a>, like other financial assets, go through bull markets that increase asset valuations then later experience bear markets that wipe out those gains.<\/p>\n

However, there could be more to comparing past Bitcoin cycles with the current cycle, beyond simple bull and bear market transitions.<\/p>\n

According to one crypto analyst, the last Bitcoin bear market cycle gave investors hope after a \u201cfalse bottom\u201d was put in at the 0.382 Fibonacci level. This false bottom eventually gave way and caused the leading cryptocurrency by market cap to plummet to its true bottom at roughly $150.<\/p>\n

Interestingly, this true bottom happened to be the top of the previous cycle\u2019s bull market peak. It also represented a perfect fall to the \u201cgolden zone\u201d \u2013 a key level where multiple Fibonacci levels converge<\/a>.<\/p>\n

https:\/\/twitter.com\/sometrader78\/status\/35783684?s=21<\/p>\n

Bitcoin’s Final True Bottom Could Be Previous Bull Market Top at $1,200<\/h2>\n

Should Bitcoin<\/a> follow a similar path his time around, the current bear market bottom at $3,200 would be just a temporary \u201cfalse bottom\u201d and Bitcoin will fall back to its previous bull market cycle\u2019s all-time high.<\/p>\n

This peak current rests at roughly $1,200, suggesting that first-ever cryptocurrency could suffer yet another serious collapse in the days and weeks ahead.<\/p>\n

Related Reading | Economist: Government Overspending Amidst Crisis is Bullish for Bitcoin<\/a><\/strong><\/em><\/p>\n

For more than two years now, crypto investors have been claiming they\u2019d go all-in on Bitcoin if it ever returned to such prices. But now that such lows are near, the world is in a panic over a spreading pandemic, and a recession is all but guaranteed at this point, is anyone really ready to buy Bitcoin if it falls to such prices?<\/p>\n

For every seller, there\u2019s always a buyer, so someone would be buying Bitcoin<\/a> at those prices, and those that do, just like the last time around, could see life-changing upside following the real bottom being put in.<\/p>\n

Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"
During Bitcoin\u2019s last bear market, after crypto investors were convinced a bottom was in, the asset later broke down to set a new low \u2013 a low that coincided with the previous cycle\u2019s top. History often repeats itself, and with Bitcoin suddenly at prices, no one expected to see two years after a \u201cbottom\u201d was put in, a deeper fall to a previous peak cannot be ruled out. History Often Repeats, But Do Crypto Market Cycles? Historic recurrence is described as a phenomenon where strikingly similar events repeat over the years, and such instances have been recorded since the dawn of time. Like the planets orbiting the sun or the four seasons, markets are also cyclical, and go through extended periods of downtrend, followed by growth and prosperity. Related Reading | Seasonality in Bitcoin: Will Spring Bring a Return of Growth to Cryptocurrency? Bitcoin, like other financial assets, go through bull markets that increase asset valuations then later experience bear markets that wipe out those gains. However, there could be more to comparing past Bitcoin cycles with the current cycle, beyond simple bull and bear market transitions. According to one crypto analyst, the last Bitcoin bear market cycle gave investors hope after a \u201cfalse bottom\u201d was put in at the 0.382 Fibonacci level. This false bottom eventually gave way and caused the leading cryptocurrency by market cap to plummet to its true bottom at roughly $150. Interestingly, this true bottom happened to be the top of the previous cycle\u2019s bull market peak. It also represented a perfect fall to the \u201cgolden zone\u201d \u2013 a key level where multiple Fibonacci levels converge. https:\/\/twitter.com\/sometrader78\/status\/35783684?s=21 Bitcoin’s Final True Bottom Could Be Previous Bull Market Top at $1,200 Should Bitcoin follow a similar path his time around, the current bear market bottom at $3,200 would be just a temporary \u201cfalse bottom\u201d and Bitcoin will fall back to its previous bull market cycle\u2019s all-time high. This peak current rests at roughly $1,200, suggesting that first-ever cryptocurrency could suffer yet another serious collapse in the days and weeks ahead. Related Reading | Economist: Government Overspending Amidst Crisis is Bullish for Bitcoin For more than two years now, crypto investors have been claiming they\u2019d go all-in on Bitcoin if it ever returned to such prices. But now that such lows are near, the world is in a panic over a spreading pandemic, and a recession is all but guaranteed at this point, is anyone really ready to buy Bitcoin if it falls to such prices? For every seller, there\u2019s always a buyer, so someone would be buying Bitcoin at those prices, and those that do, just like the last time around, could see life-changing upside following the real bottom being put in. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":418976,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,6664,28885,74679,52377],"class_list":["post-418974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-crypto","tag-fibonacci","tag-historic-recurrence","tag-market-cycles"],"acf":[],"yoast_head":"\nHistoric Recurrence: Will Bitcoin Bottom At Its Previous All-Time High?<\/title>\n<meta name=\"description\" content=\"During Bitcoin\u2019s last bear market, after crypto investors were convinced a bottom was in, the asset later broke down to set a new low \u2013 a low that\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/uniquehot.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Historic Recurrence: Will Bitcoin Bottom At Its Previous All-Time High?","url":"http:\/\/uniquehot.com\/news\/historic-recurrence-will-bitcoin-bottom-at-its-previous-all-time-high\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/historic-recurrence-will-bitcoin-bottom-at-its-previous-all-time-high\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/03\/bitcoin-historic-recurrence-market-cycle-bottom-shutterstock_1172461021-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/03\/bitcoin-historic-recurrence-market-cycle-bottom-shutterstock_1172461021-scaled.jpg?fit=2560%2C1707"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","crypto","fibonacci","historic recurrence","market cycles"],"dateCreated":"2020-03-23T16:00:46Z","datePublished":"2020-03-23T16:00:46Z","dateModified":"2020-03-23T16:00:46Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Historic Recurrence: Will Bitcoin Bottom At Its Previous All-Time High?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/historic-recurrence-will-bitcoin-bottom-at-its-previous-all-time-high\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/historic-recurrence-will-bitcoin-bottom-at-its-previous-all-time-high\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/bitcoin-historic-recurrence-market-cycle-bottom-shutterstock_1172461021-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/bitcoin-historic-recurrence-market-cycle-bottom-shutterstock_1172461021-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"crypto\",\"fibonacci\",\"historic recurrence\",\"market cycles\"],\"dateCreated\":\"2020-03-23T16:00:46Z\",\"datePublished\":\"2020-03-23T16:00:46Z\",\"dateModified\":\"2020-03-23T16:00:46Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/03\/bitcoin-historic-recurrence-market-cycle-bottom-shutterstock_1172461021-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/418974"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=418974"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/418974\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/418976"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=418974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=418974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=418974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}