Bitcoin: This Will Be The Worst 'Crypto Winter'

May 24, 2021 8:04 AM ETBitcoin USD (BTC-USD)188 Comments
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  • Bitcoin valuations are crashing hard and many analysts seem to be making the case that China’s crackdown on cryptocurrency is the central reason behind the collapse.
  • However, the Chinese government has made many similar comments in the past and it seems unlikely that this “new information” is what’s inspiring investors to close BTC-USD long positions.
  • Instead, fundamental questions of legitimacy are now being re-considered by the market-at-large and all of this suggests that we might now be entering the worst “crypto winter” on record.

Difficult conditions on snowy road.
Photo by f28production/E+ via Getty Images

In many prior articles, we have laid out bullish arguments calling for strong rallies in the BTC-USD currency pair. In fact, we called for a parabolic breakout in BTC-USD all the way back in

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