According to CoinMeta, Jiang Zhuoer, the founder of LaiBit mining pool, stated that Bitcoin's current losses are not high enough and the volatility is relatively low, indicating a period of respite during a bottom-finding process. He used the market situation in 2018 as an example; at that time, Bitcoin remained in a sideways range between $6,000 and $7,000 for about two and a half months, which is similar to the current sideways range of $60,000 to $70,000 that has lasted for two months, before the price then fell to $3,000.