Glassnode Says Bitcoin Has Deviated From Historical 4 Year Cycles, With the Risk of Further Sharp Declines Potentially Decreasing Over Time
BIBIBI
AT A GLANCE
Glassnode believes that Bitcoin has most likely bottomed, making a further sharp decline unlikely.
Article
Glassnode: Bitcoin has very likely established a bottom, and a continued sharp decline is unlikely
BlockBeats news,September 23, Glassnode posted on social media that the 4-year cycle playbook relied on by many investors has not worked for this BTC bear market. So far, the declines in the previous bear markets were more than twice those of this one, and they were still several weeks away from their respective lows. As time 1 passes week by week, the likelihood of a late-stage decline to the depth of the previous instances appears increasingly low.
Original link https://m.theblockbeats.info/flash/368653
Key points
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September 23, Glassnode posted on social media.
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Glassnode states that many investors rely on the 4 year-cycle playbook, which did not work in this BTC bear market.
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The declines in the first three bear markets were more than twice as large as this time.
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Compared with the first three bear markets, this one is still several weeks away from the low.
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Glassnode states that the likelihood of a further decline to the depths seen in previous bear markets is becoming increasingly small.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Glassnode means that the decline in the current Bitcoin bear market is smaller than in the previous bear markets, and that the market may already be approaching a bottom.
Why it matters to readers
If this assessment holds, there may be limited room for Bitcoin to continue falling sharply.
This provides a market view on whether Bitcoin may be approaching a bear-market bottom, but it is not a definitive outcome.
Risks and unknowns
The article does not provide the specific data on which Glassnode based its assessment.
“High probability” and “lower probability” are both judgments and do not mean that a bottom has been confirmed.
The article does not specify the exact declines or the timing of the bottoms for the previous bear markets and the current bear market.
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Related concepts
bear market
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