Think $60K is the top? This Bitcoin fractal suggests it's the next bear market bottom
Bitcoin (BTC) may have hit highs of $60,000, but calculations suggest that the price level will matter much more to bears, not bulls.
In a tweet on Oct. 14, popular Twitter account TechDev again highlighted historical data which has so far accurately tracked Bitcoin's highs and lows.
While BTC/USD is tipped to retake all-time highs and climb to six figures this year, investors' attention is already turning to how far Bitcoin will fall after its next blow-off top.
The idea that BTC price action moves in cycles — with a bearish phase and a bottom of 80% of the blow-off top — has become widely accepted.
What is much harder to believe in current circumstances, however, is that $60,000 may just be the price floor of that potential 80% correction.
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