When and Where is the bottom for Bitcoin?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
It has been a challenging week for crypto, with Bitcoin dropping over 20% in 2 days before recovering slightly. While this drop can undoubtedly be attributed to the negative news regarding FTX, when watching the overall trend, Bitcoin was actually due for a drop this month. This leaves many people asking, "When will Bitcoin finally reach the bottom, and how low will it go?"; this is what we will answer today!

When will BTC Bottom?
It is impossible to say the precise date when Bitcoin will find the bottom, but we can make an educated guess based on past bear markets. Bitcoin has experienced 3 long bear markets so far during its existence. The first occurred in 2014, the second in 2018, and the current in 2024. As you have noticed, they are about 4 years apart. That is because Bitcoin follows a 4-year cycle, where a peak and a bottom are reached around 4 years apart.

With this information in mind, we can guess that the bottom of the bear market should come somewhere around November or December this year, as that is 4 years apart from the last bear market. However, as we all know "history doesn't repeat itself, but it often rhymes". Therefore we cannot expect to be 100% accurate with our prediction of a bottom in November/December, but it should be close.

Where will BTC Bottom?
If we are to study history again, we can see that the bottom of the previous 2 bear runs came after an 86% and an 84% drop from the all-time high. That means that if the trend continues and Bitcoin drops 82% from its all-time high of $69,000, we could be looking at a bottom at around $12,500.

Again this is not rocket science, so the bottom could be between $10,000-$14,000.

Looking Ahead: Unless other impactful negative news occurs, Bitcoin should find a bottom between $10,000-$14,000 in November or December. However, since you can never buy an asset at its lowest point, it can be a good idea to buy in small increments as it continues to fall, essentially averaging down. Cryptohopper has automated this for you through our DCA feature, so you don't have to watch the market constantly to catch Bitcoin at lower prices.

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