The sales, which started with the effect of global markets, gradually increased its power. While many investors thought it had bottomed out, it hit a new low. Especially in altcoins, the loss of more than 20% during the day increased the panic level of the investors.
The biggest reason why many experienced and inexperienced investors stay inside bitcoin‘ has experienced a decline without any corrections. Something does not always rise or fall, so investors who stay inside in the rises that will occur after a bottom can choose the way to reduce their risks.
So When Will The Bottom Come?
When we look at the indicators that have done good work in this regard in previous cycles, we see that we are not far from the bottom. This shows that we are not at the ideal level to sell, and that we can expect a reaction even if we are considering exiting the market.
The analyst named PlanC, who shared the bottom indicators on Twitter, said the bottom levels pointed by other indicators along with his own model.
Plan C $30,319-$33,053
Logarithmic growth curve $26,819
Plan C – Miner Floor Model $20,184
When we look at the graphs, we see that they have been successful in finding the bottom in the previous cycles. Now that we are approaching the levels in the first indicator, it signals that we may be at a possible bottom.
The $26,000 and $20,000 targets can only come to the fore after the $30,000 level is broken.
The analyst, who also made his own comment on the bottom models, said;
“We stayed only 4 days under the base price model, which was the first model in the last 10 years.
This indicates the $30,000-33,000 range for now.
I feel like this will be our base level.
This band is adjusted daily based on in-chain data.”
Note: These are the models that mark the end of the bear market. Therefore, it should not be interpreted as falling to these levels in the short term.
*Not Investment Advice.