JIANG ZHOR: BTC IS CURRENTLY OR IS IN THE “BREATHING PHASE” RATHER THAN THE “SILENT BOTTOM”

ON 9 AUGUST, JIANG ZHOR, FOUNDER OF THE LEBIT MINE (B. TOP), STATED THAT THE THREE PREVIOUS BASE LEVELS OF BITCOIN HAD BEEN ACCOMPANIED BY “HIGH LOSSES, LARGE FLUCTUATIONS” AND THAT THE CURRENT FEATURE WAS “LOWER LOSSES AND SMALLER FLUCTUATIONS”. IN HIS VIEW, RATHER THAN BET IT WAS AN UNPRECEDENTED “EASINESS FLOOR”, IT SHOULD BE SEEN AS A “BREATHING PHASE” IN THE SEARCH FOR THE BOTTOM. THE CASE OF JIANG ZHOR WAS TAKEN AS AN EXAMPLE IN 2018, WHEN THE $6000 BTC THRESHOLD WAS TESTED SEVERAL TIMES AND CONSIDERED BY MANY INVESTORS TO BE THE BOTTOM THAT WOULD NOT BREAK. THE BTC, WHICH WAS BETWEEN $6000 AND $700 FOR ABOUT TWO AND A HALF MONTHS BEFORE IT CRASHED, WAS SIMILAR TO THE CURRENT ONE BETWEEN $60,000 AND $70,000 FOR TWO MONTHS, AND THEN THE PRICE FELL TO $3000。