Technical analysis by EvanHearne about Symbol BTC: Buy recommendation (8/6/2024)

If you were to look at Bitcoin as if it's in a mid-cycle bull run, you could draw similarities to 2020. Although the 2020 crash was pandemic-induced, creating mass fear and causing a harsh sell-off of around 70%, this current dip is around 30%. The market is substantially different now compared to what it was then. The media is spreading fear of a recession. While it is possible we may fall into one, I am willing to take the risk. Personally, I'm not buying Bitcoin; it just determines the future of altcoins. As we saw, Bitcoin was hitting all-time highs not too long ago, and now altcoins are hitting all-time lows, which we've never seen before in history. Statistically, the best chances of success are to buy when coins are at all-time lows, as markets are always due for a flip. With patience and luck, I see this as a fitting time to buy altcoins. This is just a different outlook; I could be completely wrong.