Bitcoin's historical Fibonacci pattern suggests potential drop to $48,000
The article discusses a historical Fibonacci retracement pattern in Bitcoin's price cycles since 2010. It explains that in every major bear market following bull peaks (2011, 2013, 2017, 2021), Bitcoin has crashed well below the 61.8% Fibonacci retracement level from its near-zero starting point. Based on this pattern, the article suggests Bitcoin could potentially crash to at least $48,000.
Key quotes
Bitcoin has a unique pattern, and it has held across every major bullish cycle since the cryptocurrency began trading near zero 16 years ago.
This pattern suggests that prices could crash to at least $48,000.
The bear markets that followed these peaks saw prices crash well below the 61.8% retracement of the entire move from near zero to the bull peaks.
From the article
Bitcoin has never escaped a particular Fibonacci pattern since it started trading in 2010. Here is what it suggests about where prices could go next.
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