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CEO CryptoQuant: Bitcoin Has Not Yet Reached the Bottom
Looking at past cycles, BTC has not yet entered the zone where the bottom usually formed.
In every major cycle, the price touched the average purchase price of coins on the network.
The closer BTC gets to this zone, the better the risk-to-potential-profit ratio becomes.
So far, this touch has not occurred.
Either the decline is not over yet, or this time the cycle is truly different.