[Renowned Trader: Bitcoin's Historical Bottom Signal Reappears, May Still Require Months of Sideways Movement to Complete Bottom Formation] BlockBeats News, August 12 – Renowned trader Doctor Profit posted that a historical indicator for Bitcoin is signaling that 'the bottom has already appeared or is very close.' In 2015, 2019, and 2022, the bear market bottom formation phase began when the realized price of 3- to 6-month holders fell below the realized price of 1- to 2-year holders. He believes this indicates that newer buyers are capitulating and selling at a loss, while Bitcoin is gradually being transferred to longer-term holders. Currently, this crossover is occurring for the fourth time, with BTC prices below the average cost of both categories of holders. However, historically, this signal does not lead to an immediate reversal. Bitcoin typically undergoes several months of sideways movement to complete the bottom formation, making this phase a potential long-term accumulation zone. He believes the market is currently in the bear market bottom formation and long-term accumulation phase. Doctor Profit stated that over the past few weeks, he has been gradually buying BTC in the $54,000 to $64,000 range and continues to build positions incrementally with 5% of his portfolio at a time. [Original Link]