Note: This article is not intended to be formal financial advice; always do your own research before investing.
Bitcoin hit a 40-day low of $47,272 on April 25 after an impressive run to start the year. And like every dip, bears are out of hibernation again, telling us Bitcoin reached its peak. But I’m not worried about the recent price drop.
The downturn began after Turkey banned Bitcoin payments, highlighting concerns about government crackdowns on cryptocurrencies going forward. The price drop prompted realistic concerns about Bitcoin’s future outlook. But have we really reached peak levels?
Let’s take a closer look at Bitcoin’s historical data. It’ll show us why we are on the verge of another bull run.