[Jiang Zhuoer: BTC May Currently Be in a 'Breathing Phase' of Bottoming Out, Rather Than a 'Calm Bottom'] BlockBeats News, August 9 – Jiang Zhuoer, founder of BTC.TOP mining pool, stated in a post that Bitcoin's previous three major bottoms were all accompanied by 'high losses and large fluctuations,' whereas the current characteristics are 'insufficient losses and smaller fluctuations.' He believes that instead of betting on this being an unprecedented 'calm bottom,' it is better to view it as a 'breathing phase' in the process of bottoming out. Jiang Zhuoer cited the 2018 market as an example, where BTC's $6,000 level was tested multiple times and regarded by many investors as an unbreakable bottom. Before breaking below, BTC consolidated in the $6,000 to $7,000 range for about two and a half months, which is somewhat similar to the current two-month consolidation in the $60,000 to $70,000 range, before the price eventually dropped to $3,000. [Original Link]