X @Michaël van de Poppe
Michaël van de Poppe·2026-01-31 18:16
It's quite comparable to any of the previous bear market periods.The valuation of $BTC vs Gold has hit <30.That's when you'll find yourself in a bear market low, but it doesn't mean markets can't have a second leg down.This has also happened in 2022 with the breakdown in November.This also happened in 2018 with some slight downwards continuation (creating that gap with fair price).Very similar structure happening in the markets currently.And, the production cost of 1 BTC is really close. ...