## Bitcoin (BTC) May Have Bottomed, But Crypto Could Still See A “Black Swan” Event

In the eyes of analysts across the board, Bitcoin (BTC) decidedly bottomed at $3,150. They cite the fact that at$3,150, BTC was down 85% from its all-time highs, which is where the crypto asset has bottomed in previous cycles, coupled with the idea that industry fundamentals are better than ever.

## Bitcoin Looks Hopeful

More likely than not, however, Bitcoin has bottomed. As reported by NewsBTC previously, the same report showed clear signs that BTC is in accumulation.

It was explained that the Bitcoin Unrealized Profit/Loss (BUPL) indicator, which aims to estimate how much BTC holders’ are cumulatively profiting or losing, is reading at $13 billion in the positive. If the indicator is adjusted for the approximate number of lost coins, however, BUPL currently reads at$3 billion — 3% — of unrealized losses.

While this doesn’t sound all too important, as the measure is lesser-known, as Adamant explains, the recent BUPL movements confirms that Bitcoin has exited a “capitulation” phase, entering into a stage of “hope” (and fear). It is important to note that when BTC exited the “capitulation” phase during 2014 to 2016’s cycle, there was strong BUPL uptick, as we are experiencing now due to Bitcoin’s recent rally past $5,000. What’s even more optimistic is that the 60-day volatility chart for BTC is currently sitting at 5%, a level not seen since late-2016, and even fell as low as 2% in early-November 2018. This, as Murad Mahmudov once explained hows that a Bitcoin rally could be on the horizon. • 57 | Hello expand Supporting expand Happy mining expand Great sharing expand Support expand Good morning expand Support expand Great mining expand Good sharing expand Supported expand Come and support expand Come and mining expand Thanks for your sharing. expand Good afternoon expand Great post expand Mining support expand Thank you for sharing. expand Support you expand Nice sharing expand Good afternoon expand support expand support expand thanks for sharing expand thanks for sharing expand Support expand Mining expand Nice sharing expand Mining support expand Thank you for sharing. expand You should login to reply You will reward to {{ username }} Available Balance: {{balance}} ≈$ {{usdtAmount.toFixed(2)}} (The reward commission rate is 10.0%)

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