Bitcoin Risks Losing 80% of Its Value If Oldest Crypto Market Theory Comes True — TradingView News
Bitcoin is trading near $110,000, but its long-term profit-and-loss signal is showing the same curve alignment that preceded each of the three major sell-offs in its history. The 365-day moving average of the PnL Index, tracked by CryptoQuant, hit similar numbers in 2013, 2017 and 2021, and each time, there was a drop of about 75-80% the following year.
During those periods, the market value fell from $1,100 to $200, then from $19,700 to $3,200, and later from $69,000 to $15,500. Each reset lined up with the halving pattern that reduces the new Bitcoin supply every four years, shaping the recurring expansion-and-contraction cycle.
The current curve is once again nearing its upper band, showing that profit-taking is now higher than new…
