The price of Bitcoin has fallen again. What can we expect before the end of the year?
The market correction has been going on for more than a year, it is the fourth longest of all time. To date, it has already been going on for 381 days. Before the current market situation, there were 3 more significant corrections, and the longest almost 2 years from 12.2013 to 10.2015, and ended with a pullback of the price of bitcoin from ATH 83%, today the price of bitcoin is around 16,000 euros, this equals a 75% rollback from the previous ATH, so we still have more to go!
Market history tends to repeat itself. All periods of Bitcoin growth are tied to halving and this peg will not go anywhere. At the moment, the market aura is as negative as possible, the entire crypto community is almost 100% in a panic and predicts a fall to 11,500-12,000 euros per 1 bitcoin, and some predict an even worse outcome for the first cryptocurrency. There is a huge flurry of opinions that it will be impossible to buy even bread for 1 bitcoin.
And in terms of market forecasting, every +- experienced crypto investor knows that the extreme fear of most of the community is one of the price reversal factors.
Of course, one cannot deny a sharp negative jump before the new trend (11,500 – 12,000 euros for 1 bitcoin), again based on a study of the histories of previous cycles.
On the other hand, each time the story is different and many consider ATH 2021 to be truncated. And if not for that flurry of negative circumstances in 2021 + stock market pressure, we would have seen ATH 2021 at the level of 100,000 – 150,000 euros per bitcoin (many experienced “players” agree with this thesis). Therefore, this price, even if we assume the maximum rollback to the same 83%, gives us the current levels.
As a result, we expect a positive end to 2022 both for bitcoin and for the entire crypto market with a return to the levels of 25-30 thousand euros per bitcoin.