More Pain For Bitcoin? Analyst Explains Why BTC’s Bottom May Be Months Away
Bitcoin may not have fully bottomed yet. A market analyst compared the current correction with past cycles and said both time and depth suggest more downside is possible. BTC is about 14% below its 2021 peak, but previous bear markets typically lasted at least a year, while the current pullback has run for about 240 days so far. If history repeats, the bottom could still be months away. Depth also points to more risk: this cycle’s drawdown has reached about 53%, versus 77% in the last bear market and 84% in 2018. Because each cycle has generally become shallower, a final retracement near 70% is possible, which would put BTC in the high $30,000s to low $40,000s. The next four to five months may be decisive, with another 20% drop still possible before a final bottom forms.
