Stifel Predicts $38,000 Bitcoin Price Based on Trendline Analysis

Stifel Financial, a prominent investment bank with over 136 years of experience, has made a prediction about Bitcoin's future price. According to their analysis, which is based on a 15-year trendline connecting previous crash bottoms, the cryptocurrency could fall to $38,000.

This prediction is not a forecast of a collapse, but rather an observation that the current decline would be consistent with every crash that has come before it. The trendline analysis connects the lows of the four major Bitcoin crashes since 2010, which have seen prices drop by 93%, 84%, 83%, and 76% respectively.

The upward-sloping floor that this trendline represents suggests that each time Bitcoin falls, its price has consistently landed higher than before. However, the current market conditions are different from previous crashes, with a weaker dollar and increased correlation with tech stocks.