Weve seen bitcoin drop to levels that we never thought wed see again. Massive institutions are getting liquidated from their crypto positions and everyones. Just wondering. When is this pain going to end how low is bitcoins price going to go so lets talk about it, the crypto market? Right now when were looking at the charts for bitcoin, and we could see that bitcoin has done something that it has never done before. A couple of things actually, the first of that is that bitcoins price dropped below the last bull markets, all time high. So during the last bull market in 2018 we saw bitcoins price, go all the way up to 20 000 per coin and in the whole entire history of bitcoin. Since it was first started, we have never seen a correction below the previous bull markets all time high. So this is a bit concerning. You can see this line right here. The blue line represents that high during the 2018 bull market. So this is a bit concerning the only thing thats happening, which is also concerning. Is this 200 week moving average when people are talking about technical indicators and looking at this? This is another thing that has never happened before. On the 200 week moving average, we could see that bitcoins price has never dropped below this on the weekly time frame. Yet we are seeing that currently bitcoins price has dropped below right now. The 200 week moving average is sitting right around 22 000 per coin, and right now, bitcoins price is sitting well below that and 18 000 to 19 000 per coin.

So these two things have never happened before and theyre also a bit concerning the third thing: thats happening, which has never happened before is gon na be with the crypto fear and greed index right now. Crypto fear and greed index is at six, but after todays close im expecting it to be the lowest level that we have ever seen, because in the last 24 hours, bitcoins price has dropped. Another 10 and fear is at an all time high. So when were looking at all three of these things, this would indicate to me that obviously were not following the same patterns and trends and technical uh patterns that we had seen in previous bull markets. But it also shows me is that we are not, if not already at the bottom. We have to be close because things are as fearful as they get in crypto right now and as warren buffett always says, you know be fearful when others are greedy, be greedy. When others are fearful and fear is definitely at an all time high, the one thing i would say the one reason why id say: maybe we arent at the bottom just yet the one thing is going to be that when we look at historical patterns, usually bitcoins Price drops 85 from all time highs during a bull market, and if we look at that, that would bring bitcoins price right now so 69 000 was the high 85 percent drop um from that.

So lets clear this out: 69 000 times. Yeah lets clear this out. 69, 000 times 0.15, so an 85 drop will put us right at 10 350.. So, if were looking at historical data, yes, things are more fearful than they have ever been. Yes, a lot of things with technicals look like we have hit the bottom, but the one thing i would say is that, if were looking at the usual drop from all time high to the bottom before we start to rally back its usually 85 percent drop, which Will put bitcoin right at 10, 350 per coin? Do i think thats gon na happen? No, but we have to keep that in the back of our heads as were continuing to see what develops with the market, but i would say, look at whats going on with bitcoin dropping below that key previous all time. High look at whats, going on with this 200 week moving average and the crypto fear in grade index, and all of these, which point to me being were at the most fearful time. We are, if not at the bottom, very very close to it. Last couple things i want to talk about is going to be with michael saylor microstrategy, as well as massive liquidations that have taken place, michael saylor microstrategy. They have come out recently and said that now they believe it is the ideal time to buy bitcoin. But the one thing that he said in a recent interview is that if youre looking to buy bitcoin on a monthly or even a year to two year basis, its very volatile very risky play.

But if youre looking to get into bitcoin on a long term basis. Ten, like a decade or more, it is the one of the best ways, uh best ways to invest your money best place to put your money, and he says its outperformed, gold, the stock market and everything since its inception. Last thing i want to talk about also is going to be with three arrows capital and institutions. Getting liquidated were seeing right now is that over the last 24 hours there has been 366 million dollars of liquidations. Surprisingly, this is a lot lower than i was expecting expecting giving that bitcoins price is seeing a record week in terms of losses. This is one of the biggest weekly losses we have ever seen in terms of percentage and in terms of dollars were seeing bitcoin down over 10 percent down uh down over thirty percent down over ten thousand dollars per coin. Weve never seen this. I was expecting liquidations to be a lot higher, but they arent at least over the last 24 hours, which means to me that a lot of these uh over leveraged people have gotten shaken out. Theyve been liquidated could be signaling that we are at the bottom, but when were looking at institutions, the story is a little bit different institutions. Over the last 24 hours, last really 48 hours have seen massive liquidations take place. Blockfi had to recently liquidate um three arrows capital. They came out in a recent post and said that, despite best business judgment, they had to liquidate a large client and, according to reports they might have had to actually liquidate up to 400 million dollars from three eros capital, and this is happening all across the port.

Its not just three hours capital, its many institutions right now have been over leveraged on bitcoin and theyre, struggling theyre regretting it. They are getting liquidated because of this. So what it looks like to me is that it looks like were almost at the bottom, if not already there. The one thing, i would say is keep an eye out on that 85 drop, which typically happens in the crypto market, because that is the only reason. The only thing i would see that would bring us a little bit lower, but thats whats, going on in the market im personally buying im buying a lot of bitcoin at these levels.

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