Bitcoin’s (BTC) predicted bottom could be a major buying opportunity…
Since its November 2021 highs, Bitcoin has crashed by more than 70% – erasing roughly $2 trillion off the entire cryptocurrency market’s value.
Fueling this downward spiral are investors’ reactions to geopolitical tensions and surging inflation. Meanwhile, the U.S. Federal Reserve’s decision to drastically hike interest rates has also played a role.
Still, crypto hedge fund ZX Squared’s CK Zheng told CNBC the sector could soon reach a bottom. He noted that if the Fed’s actions help to rein in inflation, it could bring the economy back under control.
In turn, this may help the U.S. avoid a recession – lifting cryptocurrencies in the process.
This point was further backed by Vijay Ayyar, the vice president of corporate development at crypto exchange Luno. Ayyar said data could emerge as soon as this month supporting the notion that we may be nearing a bottom.
And if this happens, Ayyar noted it would boost sentiment across all risk assets, including crypto.
So, while experts forecast Bitcoin’s value could fall to as low as $13,000, the bottom will likely arrive by the end of the summer – removing some of its more fearful holders in the process.
And if the situation unfolds this way, Bitcoin may see a return to its more cyclical trend. Historically speaking, the digital asset has reported wild swings in value.
Back in late 2018 and early 2019, the token rose from $3,100 to $13,800 before tumbling back down to $3,600 in March 2020.
But now that Bitcoin has seen a significant increase in value, experts anticipate its new bottom will remain higher before rebounding to $40,000.
This suggests that while its price may remain volatile, it’s continuously growing – making any major pullback an opportunity for prospective buyers before Bitcoin further grows.
“A Bullish Breakout Is Almost Here,” Says America’s Leading Crypto Experts
Experts from the world’s leading crypto brain trust, the American Institute for Crypto Investors, have released their new pricing forecast, warning investors, “Crypto will never be this affordable again. Get in before it’s too late.“
Watch as they reveal their top three picks to profit from the coming surge.
