BTC seems to dump a year long end then drops another 50% at the last capitulation. I think this had already happened. It's possible this is the end of the bear. We now start recovering.
Could be horribly wrong...so take care
Bitcoin miners are using an amount of energy that doesn't scale as easy as the last run.
When price of Bitcoin goes up...mining becomes very profitable...but it is very hard to get in the game then....
These mining companies will be going parabolic...
* Obviously no financial advice
- Down 95% from ATH
- At support
- Mac d turning dark red (thats when things move up again)
- RSI at the bottom
Bitcoin at the bottom area.
I am DCA in mining stocks here.
Take care
If Bull and Bear cycles are the same length and size. Then BTC should test the 200W MA at 21K. That will be the bottom, and it will start a new Bull cycle from here. The dump would not be 80% That's why i think the bull case fits better.