Where is the real bottom of bitcoin?

We have good and bad news for you. The good one is that the growth of Bitcoin is inevitable. And the bad news is that it will start much later than most analysts predict because Bitcoin is still not at the bottom where it can accumulate enough strength for the next growth.

It's time to get rid of illusions and decide on where the real bottom of Bitcoin and how long to wait for the market reversal.

Fair bitcoin price

For #1 cryptocurrency to gain enough power for the new indigent and the bubble began to inflate again, long-term investors must accumulate an abundant supply of crypto-assets. But the big players will not do this until bitcoin reaches the so-called 'fair price', the level at which the accumulation of value occurs, or the bottom.

Now many analysts claim that this is $3,000, but they also said the same when Bitcoin cost $6,000 and said that there was nowhere to fall below. It turned out that there is.

If we turn to technical analysis, support levels of $3000 and even $ 2000 are not a bottom or a fair price. Because they were set during a bullish rally when the bubble began to inflate, meaning all those who entered the market at that time had already managed to sell bitcoins at the peak and are now unlikely to rebuy them. They will wait for the maximum drawdown, and this level is about $1500. BTC traded around this cost for a long time, and it was a springboard for the explosive growth of 2017.

How will the market act?

It is essential to understand it is impossible to predict the market because it is not regulated. At any time, an event that violates all forecasts can occur. All we can do is monitoring the situation and drawing conclusions based on previously collected statistics.

We draw your attention that the right trader or investor always thinks only with his head and further is not a financial recommendation, it’s just our take on the current situation and nothing more.

So, now the market has two scenarios. The first is a further rapid decline, which will indicate a continuation of the surrender phase.

But if we consider Bitcoin's record oversold, then the second scenario is the transition to the stage of despair accompanied by high volatility and a soon return to a bitcoin price of $4,000, $5,000, or even higher. But then the course will turn around again and fall below current levels. Such swings will continue, gradually fading away, until we reach the real bottom.