Are we in the accumulation phase for Bitcoin now?

in #bitcoin6 years ago (edited)

I've seen a lot of people comparing the current Bitcoin chart to the one in 2014, when there was a similar bear market after a parabolic rise. They're saying that we still need a new low and an accumulation period before the next bull market can start. I'm persuaded by that argument because I think it's always safer to think that a bear market will continue, than to try and guess the bottom. I can't help noticing that the accumulation period at the end of the last bear market looks similar to the current Bitcoin chart though. Look at the two areas in the red boxes. Interestingly, volatility was never that low in the previous bear market, until it reached the bottom.

2014
btc 2014.jpg

Now
BTC now.jpg

Volatility has almost completely gone. Volume is very low, traders are using FOREX because they can't get decent moves with Bitcoin. Perhaps this is near the end of the bear market? This is just my thoughts, not financial advice.

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