Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Of course, I know that bitcoin in 2017 and 2021 bull market had much greater local declines (30-40%), apart from even a higher % decline (~50%) in the middle of 2021.
2021's 50% decline was because of China banning Bitcoin (again), afair.
Sometimes, in silent moments, i imagine what BTC's ATH in 2021 could have been without that ChinaBan21.
I would say that decline came from FTX selling off customer BTC to pump shitcoins in an attempt to get investors at a massively overvalued valuation. I wouldn’t discount a pullback either way just because of where we’re at in the market cycle, but I wouldn’t compare it to 2021. If anything we are in the start of 2020 in the cycle.