Levi Ackerman summarizes the medium-term results for Bitcoin (BTC) and price performance in the summer of 2011-2019; the leader reported that the cryptocurrency could experience a minimum decline of 30%.
Ackerman has shown Bitcoin (BTC) price charts, which have shown typical Bitcoin performance over the past nine years. According to his tweet, there was a price drop of 30-60% every summer, which brought at least one cycle of decline.
The most brutal collapse occurred about nine years ago (in the Summer of 2011). Bitcoin (BTC) price has lost almost 60% of its value, which can be compared to the latest ‘Black Thursday’.
The three recent declines were less sensitive and the net loss for Bitcoin (BTC) remained between 30% and 31%. In 2015, Bitcoin (BTC) experienced two consecutive bearish trends, resulting in a bitter experience for all Bitcoin (BTC) holders.
Ackerman asked the most influential investors of the crypto community about their views on this trend. (Michael van de Poppe and Teddy Cleps)
Bulls should be careful but not panic
Dutch cryptocurrency analyst, trader and educator Michael van de Poppe claimed that this was “not a new narrative”.
Trader van de Poppe denied the idea of a bearish scenario resulting from the termination of futures. According to him, traders will open new trades and this expected moment can only bring “daytime volatility”.
Van de Poppe pointed to new important levels for bulls to hold, which shows below $ 9,000.
The course of Bitcoin depends on holding it at $ 8,600- $ 8,800. There is a hidden ascent deviation. The next $ 10,500 test; it will most likely cause a break.