Bitcoin fell below 16,000 and has entered the bottom-fishing range.
Falling below the shutdown price of mainstream mining machines
According to F2Pool data, after Bitcoin fell below $16,000, based on the electricity price of $0.06 per kWh and the current mining difficulty, the most mainstream Antminer S17 series mining machines in this cycle have reached the shutdown price. Shenma M30S, Hippo H2, Antminer T19 and other mining machines have also fallen into the shutdown price range.
The bear market has lasted for 12 months
This cycle reached its historical high on November 10, 2021, and it has been exactly one year since the beginning of the decline.
As a reminder of history, the bear market in 2014 lasted for 13 months, and the bear market in 2018 lasted for 12 months. If this round of bear market also lasts for nearly as long, it is possible that the bear market of the currency price will end in the near future.
All data indicators point to bottom-picking suggestions
The rainbow chart has fallen below the lower limit of Basically a Fire Sale, just like on March 12.
The AHR999 index is once again approaching the 0.25 bottom line, and this range is described as the Bottom Section.
The BTC balance on exchanges is at a new low, and holders have very little willingness to sell recently.
Maybe 15588 is not the lowest point of this bear market, but I feel that it is already the bottom range, and it may be very close to the lowest point of this bear market.
