Bitcoin Price Bottom Predicted at $38K-$39K: NYDIG Research

Bitcoin's price bottom has been a topic of discussion among market participants as the cryptocurrency continues its downtrend. According to research from NYDIG, Bitcoin is primed to hit new lows in the near term.

The 4-year cycle framework suggests the asset could continue downward, and if the 2018 and 2022 market patterns are repeated, a cycle low is expected near $38,000 and $39,000 around early October. This would be a significant drop from its current price of $63,365.

Data from Alphractal points to the Short-term holder and long-term holder signal (STH/LTH) as a historically accurate signal that could identify Bitcoin's price bottom. However, current data indicate a continuation of the bear market and further suggest the trend could persist for some time before confirmation of a bull market.