The crypto market, and particularly Bitcoin ($BTC), is plunging to further low levels. According to the data from Crypto Dan, the current down cycle of the Bitcoin ($BTC) ecosystem is displaying the worst scenario with back-to-back dips. The popular crypto analyst shared insights into the Bitcoin’s latest downturn.
Brief Bitcoin Uptrend Signifies Less Severity and Short Duration of Ongoing Down Cycle
In line with Crypto Dan’s analytics, Bitcoin (BTC) is already going through a down cycle. The historical market data reveals that Bitcoin has been dropping following its new all-time high price level. In this respect, since reaching its latest ATH of $109,000 in January this year, the key cryptocurrency has been going through a down cycle. Until now, this downside accounts for nearly 3 months, highlighting that there may be just a quarter into a likely downturn phase.
The crypto analyst also discussed the historical Bitcoin cycle patterns. The respective statistics reveal that the recent uptrend of Bitcoin was very brief in comparison with the former bull markets. Thus, the severity and duration of the present down cycle are anticipated to be relatively less extreme when compared with the past instances.
Trump Uses Rough Methods Aiming to Ultimately Support Market
According to Crypto Dan, in a wider macroeconomic context, the recent market dynamics are linked to the prevailing political developments. In this respect, the U.S. President Donald Trump’s latest aggressive policy focuses on reestablishing the worldwide economic order that would see the U.S. at its center. To achieve this, Trump will reportedly intend to swiftly increase Bitcoin and stock prices that are now lowered to a significant extent, fortifying his position. Hence, despite using rough methods, Trump is actually fulfilling the strategies thereof.
