Is $BTC losing the previous cycle ATH a big deal? Or is the spiral chart a better measure of what happens next??
You might have heard the shocking news that for 15 years, #Bitcoin never once dipped below the previous cycle's ATH. Until this month!! When the $69k level was destroyed. Disaster!!😳😳
Except, this is totally untrue, as the previous ATH was also lost on June 18, 2022. At this point, the ATH of $19,783 was viewed as an unbreakable floor. However, Bitcoin plummeted to roughly $17,600 before eventually hitting a cycle low of $15,476.
More interestingly, the famous spiral chart still hasn't crossed over. This tells us that no one who has held BTC for 4 years or more has lost money. Ever. No one!!🤑🤑 No matter how badly you time the market, you just need to wait 4 years for a profit.
If the spiral touches a previous point, this may be a more significant event than losing the previous cycle ATH. It would mean that we no longer have faith in the 4-year rule. #MarketMeltdown #BitcoinPredictions
