Will Bitcoin Price Push Down To $45K? A Historical Cycle Analysis

Will Bitcoin Price Push Down To $45K? A Historical Cycle Analysis
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Bitcoin ($BTC) markets are currently presenting price volatility patterns. This is according to historical price patterns against present market conditions.
As per current conditions, BTC could establish its bear market low at around $45,000.
This is seen from the important market significance of the 4-year Simple Moving Average (SMA) indicator.
Bitcoin’s Bear Market Bottom and the 4-Year SMA
Bitcoin has fluctuated with substantial and abrupt price movements. Historical evidence shows that Bitcoin’s bear market bottoms share similar trends to its four-year SMA.
Based on the position of this indicator’s four-year simple moving average, the current bear market could reach its base at $45,000 per Bitcoin.
A visual inspection of the provided data shows that bear market bottoms have occurred at the 4-year SMA points in the past.
Based on historical data, the bear market experiences this certain price level in almost every cycle before reversing direction.
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