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Bitcoin bear market bottoms follow this price appreciation trend Bitcoin bear market bottoms follow this price appreciation trend

Bitcoin bear market bottoms follow this price appreciation trend

After Bitcoinย bear market bottoms, we tend to see a month of drastic price appreciation followed by a month or period of consolidation. As February draws to a close, Bitcoin is up 1%, after appreciating 40% in January

Quick Take

  • So far in this cycle, Bitcoin has put a low in November 2022 during the FTX collapse at $15,500.
  • If that were low of the cycle, this would match previous cycle bottoms in terms of price action.
  • After Bitcoinย bear market bottoms, we tend to see a month of drastic price appreciation followed by a month or period of consolidation.

    Nov ’22 = Bottom
    Jan ’23 = 40%
    Feb ’23 = 1%Dec ’18 = Bottom
    Feb ’19 = 11%
    Mar ’19 = 7%Jan ’15 = Bottom
    Feb ’15 = 18%
    Mar ’15 = -4%
BTC monthly returns: (Source: Coinglass)
BTC monthly returns: (Source: Coinglass)