Peter Brandt, a long-time analyst and trader, is looking at Bitcoin’s capitulation history to see if the king cryptocurrency has flushed out enough weak hands to signal a bottom.
Massive volume expansions after a significant drop, according to Brandt’s 601,900 Twitter followers, generally suggest that BTC is near to restarting its upswing.
“Implications of volume. Key bottoms in BTC have occurred with high volume panic capitulation.
That has (yet???) to happen.”
Large-volume drawdowns have signaled the bottom for BTC during the corrections in February 2018. Also, November 2018, March 2020, and May 2021, according to Brandt’s graphic.
While it’s possible that Bitcoin won’t print a capitulation volume this time around. So, in order to carve a bottom, Brandt still expects volume to rise in order to keep the upswing going.
Meanwhile, Alex Krüger, a fellow analyst and economist, feels that Bitcoin’s bearish market structure.
Of course, which shows that the king cryptocurrency has already bottomed out.
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