20 years of trading experience, with prior roles at leading crypto exchanges and brokerage firms, focused on Hong Kong stocks, U.S. equities, and crypto markets.
Will the Clarity Act be the game-changer that reverses the crypto bear market?
Since February, $Bitcoin(BTC.USD.CC)$ has been on a downward trend from its phased high of $79,415, with its cumulative decline now approaching 19%. Looking at a longer time frame, since reaching its all-time high of $126,000 in October last year, Bitcoin has been in a continuous decline for 5 months as of February this year. The last time Bitcoin experienced a continuous decline for 5 months dates back to 2018; during that cycle, Bitcoin ultimately declined for 6 consecutive months, which was 8 years ago, or exactly two cycles ago.Looking further back in history, including this time, Bitcoin has only experienced consecutive declines for 5 months or more on 3 occasions: 5 consecutive months of decline in 2014, 6 consecutive months of decline