Bitcoin Price Floor Approaching According to Crypto Analyst

A recent analysis by crypto analyst Investor Jordan suggests that Bitcoin's price floor is approaching based on historical data showing a consistent pattern of the Relative Strength Index (RSI) dropping below 30 before a market recovery.

According to Jordan, this indicator has consistently signaled BTC's bear-market lows for over a decade. He noted that in previous cycles, whenever the Bitcoin RSI dropped below 30 and entered oversold territory, it closely aligned with BTC's cost of production.

Jordan's chart shows that Bitcoin's RSI is about to break below 30 again, which could signal that Bitcoin has reached its final bottom. However, he also cautioned that it may take several weeks or even months for the bottom to play out fully.