A lot of people have asked “Where is the bottom for Bitcoin?”. Of course nobody knows for sure but it is fun (and arguably important) to speculate.
Here I’ve plotted the BTC price since several months prior to it’s parabolic run in fall 2020 to the present. I’ve added trend lines to smooth out the data and used linear regression channels to highlight the up trending and down trending time periods. The transitions between an up trending environment and a down trending environment are given by the blue vertical lines.
The take home message is that we might see BTC bottom around $11,000 around Oct 2022. This corresponds nicely to the price observed prior to BTC’s parabolic run in fall 2000 and also corresponds quite nicely with projections made with the Phoenix Ascending indicators.
Maaaaan, i am afraid you are right! I am mining Litecoin and i have to capitulate right now. I guess it is the same for Bitcoin miners. Expect a little more downwards seeing whats going on geopolitically and economically