Isn‘t there something weird in Crypto over the last weeks or even months? Maybe it is about the price barely moving up or even down and we are just up +3.9% in September, while a bulk of that price action actually came in the last few days, before that we were set to close the month of september with just +0.7%, now that is some real crabbing and it even was not much different since weeks or even months before that.
In fact, since the beginning of this year where we experienced some slight volatility due to our move up from $15k to $25k, we barely saw any volatility again and were continuously making new involatility records for Crypto history. And indeed, this recent sideways price-action has been very historic for Crypto:
Chart showing durations BTC has spend in each price-range
As we can see on this chart, here are different price-ranges listed for Crypto and respective time periods we spent in each of them. our current scenario would fall under the price range of $16k to $32k and indeed we have spent over 586 days in this price range through 2021 and now in 2022-23. Truly a testament of how crabbish this later phase of the bear market has been.
But it is also interesting, as we saw similar scenarios during previous bear markets too, like the price-range of the post-bottom bull run in 2018 that also consists of 556 days, the second-longest ever in Crypto history. Similarly the price range of the post-bottom in the bear market of 2015 is the third-longest with 512 days.
So it seems like all of this right now is just going as planned and while history definitely won‘t be the same, history does have a tendency to rhyme usually…