How Low Will Bitcoin Go? Analysts Pinpoint a Bottom Date and Price Range
Popular cryptocurrency analysts continue to debate whether BTC has already bottomed in this cycle, and, interestingly, several agree that the actual capitulation event is not here yet, but it’s close.
Beyond predicting when it’s supposed to occur, Ali Martinez went further by outlining potential bearish price targets.
When and How Low
CryptoPotato reported yesterday the combined conclusion from Martinez, Rekt Fencer, Peter Brandt, and other analysts claiming that the long-anticipated and debated BTC bottom will take place in early October. The idea is simple, but it’s surprisingly accurate – history.
Although historical performances do not guarantee a repeat, the fact that the primary cryptocurrency has bottomed out at approximately 364 after the bull market top on more than one occasion has the community waiting for October to see if it plays out again. As such, analysts speculate that the period between October 4 and 16 represents a potential macro bottom.
Since that sounds historically accurate and promising, given the fact that there are perhaps less than two months left, let’s join the fun. Let’s accept that bitcoin indeed bottoms at the start of Q4. The question that comes next is: at what price?
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