Unwavering Bitcoin bull Tom Lee, Managing Partner and the Head of Research at Fundstrat Global Advisors, has published a new chart on Twitter that could signal a market reversal is near.

Earlier today, Lee took to Twitter to attempt to ease some of the fear, uncertainty, and doubt the market is currently experiencing after witnessing most of the cryptocurrency market drop by as much as 20% in nearly 24 hours after a slow, steady climb to $7,500. Lee shared a new research chart Fundstrat has developed called the ‘Alt-correction index.’

The Alt-correction index measures what percentage altcoins, such as Ripple, EOS, or IOTA, are down 70% from their previous 240-day high. This index of altcoin price decline recently hit a high of 97% around mid-August in what the cryptocurrency community calls “capitulation.”

Previously the Alt-correction index hadn’t reached such highs since the end of 2014, which shortly thereafter singled the end of the 2014 bear market, and Bitcoin began its slow climb back up to its previous high of over $1,000, eventually reaching $20,000 in late 2017 before correcting down to lows of around $5800 in what many are referring to as the “altcoin bubble.”

The previous high in the Alt-correction index reached 87.1%, with this most recent capitulation event hitting a high of 97%, suggesting this post-bubble pop correction has hit altcoins worse than in 2014. Many altcoins didn’t survive, and since have become a part of crypto's checkered history.

Lee also says that the last time the figure hit its then all-time high of 87.1%, altcoins saw their prices nearly triple in the 7 weeks following. At that time, there were only “349 tokens with actual trading volume,” according to Lee.

Lee closed his statements reiterating that his firm recommends sticking with Bitcoin, he says the data in the alt-correction index is a “tactically positive signal for alt-coins.”