It’s an understatement to say the current price of the world’s largest cryptocurrency pales when compared to its past glories – at $6,700, bitcoin is down roughly 60 percent from its all-time high. That said, market conditions aren’t the same as they have been in years past. Indeed, bitcoin’s 2017 boom has brought new attention, and with it, traders and investors who are left wondering if the asset can ever return to its former glory. Certainly, there’s no shortage of ways to approach the question, but one effective method is to look at the charts for historical patterns that could speak to investor psychology, and perhaps, yield valuable hints and clues about future performance. Applying these theories, a market might be expected to “bottom,” or reach a new low, after a speculative bubble bursts in a moment often referred to as “capitulation.” Consisting of extreme selling over a short time period,
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