Crypto trader Intuitio declared the current market downturn a "bear trap," comparing it to the 2021 summer bear trap while noting the stronger positions of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) this time around.
What Happened: Intuitio asserts that the present summer bear trap closely mirrors that of 2021. He points out that the bear trap in 2021 spanned from mid-April to mid-July, lasting three months. He adds that currently, we are two months into a similar bear trap.
A significant observation is the pattern in altcoin performance. In 2021, most altcoins dropped by 60-70%, while now they are down about 60%. However, the strength of Bitcoin and Ethereum sets the current scenario apart. In 2021, Bitcoin fell by 55%, but it is ...
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