Breaking News: The Bitcoin Bottom Is In! Admittedly, this is a clickbait title ... However, let me explain .. In previous cycles between halvings, the duration between the cycle high and cycle low was 13 months as you can see on the chart, with a price drop of >80% in that period. November '22 marks the 13th month since this cycle's ATH, so if history is respected, chances are that this month will mark the low for this cycle. Is the bottom in now? Today is only the 10th, so the month is another 20 days ... • How low can we go? I personally think that we could find support around 13800, which is the previous cycle's highest monthly close. So 13800 is the bottom? Not necessarily, we could spike lower than that, as 13800 would only be a 79% decline in price, so not the >80% drop we saw
Breaking News: The Bitcoin Bottom Is In! Admittedly, this is a clickbait title ... However, let me explain .. In previous cycles between halvings, the duration between the cycle high and cycle low was 13 months as you can see on the chart, with a price drop of >80% in that period. November '22 marks the 13th month since this cycle's ATH, so if history is respected, chances are that this month will mark the low for this cycle. Is the bottom in now? Today is only the 10th, so the month is another 20 days ... • How low can we go? I personally think that we could find support around 13800, which is the previous cycle's highest monthly close. So 13800 is the bottom? Not necessarily, we could spike lower than that, as 13800 would only be a 79% decline in price, so not the >80% drop we saw