Is it the end of Bitcoin?
The lower Bitcoin goes, the more we hear about its end. Let’s stay judgment-free and analyze crypto properly.
Bitcoin moves in cycles that have several stages. The highest point is called the euphoria phase, when traders turn to risk-on sentiment, hoping for further growth. But you should avoid new investments, as a plunge usually follows this phase.
The market’s lowest point is the capitulation phase, which is the best time for long trades. Guess what? We are here right now!
The price forecasting is complex, but we have a point. A local market’s bottom may come by the end of the summer or in September. We agree on breaking the $20K psychological area and heading lower to the next support of $13.5K.
In case of breaking the $13.5K level, the next support lies at the $9.3K line. Most of the crypto market will be destroyed entirely by that time. Thus, the $9.3K area may be the ultimate bottom of the crypto market if the price reaches this zone.
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