Bitcoin Bottom Predicted by LD Capital Founder

Jack Yi, founder of LD Capital and previously an Ethereum optimist, has reversed his stance on the cryptocurrency after its decline in February. He now believes that Bitcoin is in its final downtrend phase, which could be the last major drop of the bear market.

According to Elliott Wave and cycle theories, the third wave of decline is usually the strongest and longest-lasting. Yi thinks that a sustained decline in US stocks or a rebound in Strategy (MSTR) prices could signal a broader market bottom.

In his analysis, Yi predicts that a 60% drop from Bitcoin's recent ATH of $126,000 could bring it down to $51,000, and a 66% drop could bring it down to $43,000. He also believes that July and August will be the final downturn of this cycle, offering the most valuable buying opportunity for the next three years.