The post Decoding If Bitcoin (BTC) Price Has Reached The Bottom – What Analysts Say? appeared first on Coinpedia Fintech News
Most cryptocurrencies including Bitcoin started to recover towards the beginning of 2023 after the carnage of 2022. In addition, the financial markets have experienced a surge of optimism as a result of predictions that the Fed will be able to suspend or scale back its rate hikes due to slowing inflation.
While analysts and experts from the industry still argue about Bitcoin’s ‘bottom’, one analyst has provided historical evidence to prove that Bitcoin’s bottom is in.
Crypto Daan took to his Twitter handle and said, “Historically, a weekly candle close with a +20% gain, following a 6-month or longer bear market with a -75% or more decline, has always resulted in the bottom being in for $BTC.”
However, he also added, “Of course, the sample size on this data is rather small and not something to solely go by. Historical data can be fun and can be u
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