Bitcoin is at its third most oversold level in history.

Panic Sales and RSI Decline in Bitcoin

Bitcoin has recently experienced panic sales, causing the Relative Strength Index (RSI) value to drop to 17. These levels represent the third lowest oversold phase in Bitcoin's modern history. This has only been surpassed twice before, during the 2018 bear market low and the COVID-19 crash in 2020.

Past Rallies

During these periods, Bitcoin has typically provided investors with substantial gains. Following both previous events, Bitcoin investors saw returns of several times their initial investments. Whether history will repeat itself remains to be seen, but the current RSI situation may herald a new and sharp rally.