The inevitable pullback has started and crypto markets are beating a retreat at the moment. Bitcoin is leading them down as it drops back below $5,000 dumping 6 percent on the day. The question now is how low will it go?
A number of analysts had predicted a major capitulation before any real trend reversal begins and this could be the start of it. Looking at the charts last bear market cycle in 2015 they’re virtually identical to patterns emerging this time around.