Bitcoin: Downside targets based on normal distribution curves

Bitcoin is making headlines once again, although unlike late last year, this time is for the wrong reasons as the value keeps plummeting. The first immediate target can be found around $4,165.00, that’s where we should see the first significant turnaround in prices. The second midterm target expands all the way down to around $3,000.00.

We’ve seen many calls for precisely this number as the next major downside target, and we must say that based on the principles of market efficiency and normal distributions, it does look logical.