Although it has performed relatively well since the war in the Middle East broke out nearly a month ago, and has dwarfed gold in terms of gains within this period, bitcoin is far from its best shape observed in October last year. The cryptocurrency trades nearly 50% below its all-time high of over $126,000, but this continued sell-off could suggest a major…
Key takeaways
Quick scan — what you need to know:
- Although it has performed relatively well since the war in the Middle East broke out nearly a month ago, and has dwarfed gold in terms of gains within this period, bitcoin is far from its best shape…
- The cryptocurrency trades nearly 50% below its all-time high of over $126,000, but this continued sell-off could suggest a major reversal is on the horizon.
- Triple or Quadruple-Digit Gains?
- Popular trader and analyst Merlijn The Trader outlined this historical performance in a recent tweet, noting that the weekly RSI levels for BTC have plunged to such an oversold state for just a…
Background
What led here, in plain terms:
- The previous three examples were followed by mind-blowing gains: 2019: oversold.
- Then 2,700% rally.
- 2020: oversold.
- Then 1,800% rally.
Why it matters
Why readers and decision-makers should care:
- Bitcoin Fear and Greed Index.
- Source: Alternative.me The post This Oversold Signal Has Triggered 350%, 1,800%, and 2,700% Bitcoin Surges Before appeared first on CryptoPotato.
- In some of the previous occasions, the price gains were by up to 2,700% in months.