Jiang Zhuo'er: BTC May Be in a 'Breather Phase' at the Bottom, Not a 'Calm Bottom'

08/09 12:25

On August 9, Jiang Zhuo'er, founder of mining pool B.TOP, stated that Bitcoin's previous three major bottoms were all accompanied by 'high losses and large fluctuations,' while the current characteristics are 'insufficient losses and relatively small fluctuations.' He believes that rather than betting this is an unprecedented 'calm bottom,' it is better to view it as a 'breather phase' in the process of bottoming out. Jiang cited the 2018 market as an example, when BTC's $6,000 level was tested multiple times and was regarded by many investors as a bottom that would not be broken. Before breaking down, BTC traded sideways in the $6,000–$7,000 range for about two and a half months, which is similar to the current two-month sideways movement in the $60,000–$70,000 range. Subsequently, the price fell to $3,000.
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