Jiang Zhuo'er: BTC May Currently Be in a Bottoming Out "Breather Phase," Not a "Quiet Bottom"

BlockBeats News, August 9th, founder of B.TOP mining pool Jiang Zhuo'er stated that Bitcoin's three previous major bottoms were accompanied by "high losses and large fluctuations," while the current characteristic is "insufficiently high losses and smaller fluctuations." He believes that instead of betting that this is an unprecedented "calm bottom," it is better to view it as a "breather phase" during the bottom exploration process.

Jiang Zhuo'er cited the 2018 market as an example, when the $6,000 level of BTC was repeatedly tested and viewed by many investors as a bottom that would not be broken. BTC traded sideways in the $6,000 to $7,000 range for about two and a half months before breaking down, similar to the current two-month sideways movement in the $60,000 to $70,000 range, followed by a price drop to $3,000.