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Joe Burnett: Bitcoin trading below its all-time high from 5 years ago
Joe Burnett observes that bitcoin is currently trading below its all-time high from 5 years ago.
He also points out that in 2022, bitcoin was similarly below its peak from 5 years earlier. Burnett adds he avoided buying bitcoin at $16,000 back then, describing such an entry point as a 'death sentence' for BTC.
Burnett previously noted that bitcoin reached a record high about eight months ago, though sentiment remained weak at the time, describing such movement as typical volatility in the market. He has also pointed out that digital credit drawdowns have shown greater resilience even as bitcoin prices declined. These observations add context to his recent comments on bitcoin’s historical price performance.
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