In theory, any asset could go to zero but looking at the past data helps have a better guess.
For a worst case scenario on bitcoin, let’s assume we are already in a bear market.
We can have a look at what happened during the last 2 cycles and using Fibonacci retracements, we could try to come up with a floor price based on the last two examples (although it’s statistically insignificant).
Drawing Fibonacci is a bit subjective but we realise the price has retraced to the 0.382 level on the last two cycles and formed a bottom there.
This bring us to $22.9k as the lowest price bitcoin could go in a worst case scenario based on the method described above.
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We are redefining signal groups with AI generated signals. Our bot scans the top 3000 coins/tokens by market capitalization alerting you to the strongest trends.
DM us for more information about the bot and our services.
DM us for more information about the bot and our services.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.