Bitcoin Price Bottom Prediction: Analyst Sees Potential Decline and Recovery

A market analyst has made a prediction about Bitcoin's price bottom, stating that it could be around 253 days away.

The expert, Crypto Patel, used historical data from previous bear markets to make this prediction. He analyzed the depths and durations of past declines to arrive at his conclusion.

Patel based his analysis on two recent market cycles - the 2018 collapse and the 2022 downturn. In both cases, the price of Bitcoin fell significantly before stabilizing and reversing.

The analyst's chart shows that both bear markets ended near an upward-sloping support line that guided BTC's long-term structure. He also highlighted moments on the chart where negative sentiment peaked just as the market approached exhaustion.

Using these reference points, Patel projects a smaller but still significant correction in Bitcoin's current bear market. He predicts a 68% decline in price, potentially lasting close to 395 days, matching the duration of previous cycles' bear market phases.