Jiang Zhor: Now that bitcoin is more like a spa phase in the bottom, there are no historical bottom features

ACCORDING TO JIANG ZHOR, FOUNDER OF THE LEBIT MINE (B. TOP), AND ACCORDING TO HISTORICAL DATA, THE THREE PREVIOUS BIG BOTTOMS OF BITCOIN WERE USUALLY ACCOMPANIED BY HIGH LOSSES AND LARGE FLUCTUATIONS, WHILE THE CURRENT MARKET WAS CHARACTERIZED BY LOW LEVELS OF LOSSES AND LOW VOLATILITY, WHICH DID NOT YET HAVE THE TYPICAL BOTTOM CHARACTERISTICS. IN HIS VIEW, INSTEAD OF THE UNPRECEDENTED “SALARY BOTTOM” OF THE BETS, THE CURRENT TREND SHOULD BE SEEN AS A “PANTING PHASE” IN THE SEARCH FOR THE BOTTOM. JIANG ZOR ALSO CITED CASES WHERE BITCOIN WAS TESTED SEVERAL TIMES IN 2018 NEAR $600,000 AND EVENTUALLY DROPPED TO $3000 AFTER ABOUT TWO AND A HALF MONTHS, POINTING TO A SIMILARITY BETWEEN THE CURRENT TWO-MONTH RUN OF 60,000 TO 70,000 DOLLARS。