Analysis: Current crypto market trends are similar to March 2022 or August 2023

Trader Eugene Ng Ah Sio posted on X platform stating that the current trend in the cryptocurrency market is similar to that of March 2022 or August 2023. He cautioned investors to carefully choose their preferred direction. Based on historical bitcoin price data, in March 2022, bitcoin rebounded to a local high point below the top, followed by several months of continuous decline. In August 2023, bitcoin rapidly declined in mid-month, then briefly consolidated before continuing to rise until it reached a historical new high.