The consistent takeaway from these cycles is that each successive drawdown has been smaller than the last. This isn’t surprising, as Bitcoin and the entire crypto market have been growing in size, liquidity, and participation over time.
Dismissing Higher Bottom Targets Like $69,000 And $50,000Sherlock pushed back on that view by noting how reflexivity can amplify downside moves just as easily as it causes rallies. “Good luck buying your bottom at $69,000, $60,000 and $50,000,” he said.
