The bottom before the start of a new round of bull market is around the time when Bitcoin halved after the ETF news came out.
This bottom is a relative bottom and does not necessarily mean that the price is very low.
This is a position that will not make retail investors comfortable. Either the price is too low and I dare not copy it. Either it’s not as low as expected and I don’t want to copy it.
In short, most retail investors will not buy the bottom, it is human nature.

