3.7 Today’s Bitcoin price trend: Bitcoin is currently near the previous high, and has experienced diving and repairing sideways fluctuations. Historically, the washout after breaking through the previous high is normal, and the amplitude is usually between 20% and 30%. The cost of institutional holdings is above 50,000, which is far less than the expected increase in institutional buying.
Historical bull market performance: In the bull markets of 2015, 2017 and 2020, Bitcoin plunged to varying degrees after breaking through the previous high position, but then achieved substantial gains. The current diving range is relatively small, and a breakthrough is a matter of time.
Ethereum’s compensatory rise is fierce, so don’t go short. It is also wise to lay out altcoins with low multiples. Many currencies have reached the neckline position and are still in the consolidation zone, which can be regarded as the bottom position. After a breakout, many coins are expected to continue rising.
