[Block Rhythm] Recently saw someone shouting that Bitcoin is going to drop to 35,000 dollars? To be honest, this kind of argument doesn't hold water.
Think about it, if BTC were to plummet by 75%, it would have to go through a complete crazy expansion cycle first, right? But this round of market conditions hasn't even reached that step. The market structure resembles that of 2019, not the bubble-bursting rhythm of 2018 or 2021.
Looking back at the QT tightening phase in 2019, BTC stabilized when it retraced to the middle band of the Bollinger Bands. So even if we really encounter a hard landing, the worst-case scenario would be a monthly line breaking the middle band, in which case the bottom might touch the position of $55,000.
Of course, this is just a technical deduction. However, those predictions that casually mention over 30,000 are mostly made by people who haven't seriously examined the historical trends and the differences in the current market structure.
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Bitcoin falls to 35,000? Let's take a look at the historical data first.
[Block Rhythm] Recently saw someone shouting that Bitcoin is going to drop to 35,000 dollars? To be honest, this kind of argument doesn't hold water.
Think about it, if BTC were to plummet by 75%, it would have to go through a complete crazy expansion cycle first, right? But this round of market conditions hasn't even reached that step. The market structure resembles that of 2019, not the bubble-bursting rhythm of 2018 or 2021.
Looking back at the QT tightening phase in 2019, BTC stabilized when it retraced to the middle band of the Bollinger Bands. So even if we really encounter a hard landing, the worst-case scenario would be a monthly line breaking the middle band, in which case the bottom might touch the position of $55,000.
Of course, this is just a technical deduction. However, those predictions that casually mention over 30,000 are mostly made by people who haven't seriously examined the historical trends and the differences in the current market structure.