Who would've thought that the market's trading enthusiasm is now way lower than the previous bear market bottom (December 2022)? This is despite the fact that the prices of several major altcoins are still well above those levels.
◎BTC: The average daily trading volume for BTC/USDT on Binance during the last cycle's bottom was around $2 billion; now it's only about $500 million.
The current price is 4.5 times that of the last bottom. The last drawdown was -75%, and this time we've dropped -38% from the peak. If we’re using a 'mark the boat' strategy, the bottom this round looks like it could be around $31,000?
◎ETH: During the last cycle's bottom, the average daily trading volume for ETH/USDT was about $400 million; now it's only around $200 million.
The current price is 1.7 times that of the last bottom. The last drawdown was -75%, while this round has seen a -54% drop from the peak. If we’re using a 'mark the boat' strategy, the bottom this round could be ≥ $1,150?
◎BNB: At the last cycle's bottom, the average daily trading volume for BNB/USDT was about $50 million; now it's roughly at the same level.
The current price is 2.7 times that of the last bottom. The last drawdown was -65%, and this round has seen a -50% drop from the peak. If we’re using a 'mark the boat' strategy, the bottom this round looks like it could be around ~$450?
◎BTC: The average daily trading volume for BTC/USDT on Binance during the last cycle's bottom was around $2 billion; now it's only about $500 million.
The current price is 4.5 times that of the last bottom. The last drawdown was -75%, and this time we've dropped -38% from the peak. If we’re using a 'mark the boat' strategy, the bottom this round looks like it could be around $31,000?
◎ETH: During the last cycle's bottom, the average daily trading volume for ETH/USDT was about $400 million; now it's only around $200 million.
The current price is 1.7 times that of the last bottom. The last drawdown was -75%, while this round has seen a -54% drop from the peak. If we’re using a 'mark the boat' strategy, the bottom this round could be ≥ $1,150?
◎BNB: At the last cycle's bottom, the average daily trading volume for BNB/USDT was about $50 million; now it's roughly at the same level.
The current price is 2.7 times that of the last bottom. The last drawdown was -65%, and this round has seen a -50% drop from the peak. If we’re using a 'mark the boat' strategy, the bottom this round looks like it could be around ~$450?