Capriole Investments and Blockstream CEO Adam Back are reassuring alarmists - today's fall in BTC is still within the norm of a bull market. Although this, of course, will not reassure those who closed in the red and caught liquidation. Altcoin holders, who generally updated the cycle levels during this decline, will especially not believe in a happy ending.
Capriole Investments reminds that such a correction for BTC has been brewing for a long time. And with the current dump, the all-time record growth streak of#BTCended - 427 days without a 25% drawdown. The 2012 record was broken by 63 days.
In turn, Blockstream CEO Adam Beck reassures those who bought BTC, saying that today's drawdown is a normal occurrence in a bull market:
“Reminder, zoom out. Previous bull trends also had half a dozen -30% drawdowns. We are at approximately -26% (previously -27%).
In fact, recent downturns appear to be shallower, but people are forgetting the normal bull market pattern. Don't panic, buy failure. "Or buy some $CMSTR with BTC"
When asked by a subscriber what to do for those who are now in alts with -70-90%, Back urged them to learn a lesson and buy “the only investment-grade cryptocurrency.” That is, of course, #BTC.
#IntoTheBlock reports that approximately 30,000 #BTC, worth $1.73 billion, entered exchanges this week. And they add that “against the backdrop of falling prices, this influx suggests that sellers are selling off their assets in panic.”
