It’s been just revealed that Bitcoin could see a final capitulation before BTC sees a bottom. Check out the latest reports revealed by an important analyst.
Historical Bitcoin patterns
Crypto analyst Benjamin Cowen is examining the historical patterns of Bitcoin bear markets. His final goal is to estimate when BTC could bottom out.
In a new strategy session, Cowen made sure to explain the fact that it would be reasonable to expect a bottoming scenario.
This would be similar to that of 2018. You might recall that that’s when BTC’s price made a series of slightly higher lows before sharply capitulating to new lows to reach its floor.
“So far in 2022 making the case for the bottom has not really served anyone well, and that’s why at the beginning of the year we said, ‘Look, don’t spend too much mental energy trying to call a bottom in 2022…’”
He continued and said this:
“When you’re in the bear market, you just give it a little more time, and we tend to go lower. If you were to follow a similar type of pattern here – we could sort of extrapolate out the 200-day simple moving average if it were to continue on down on its current trajectory, where might it cross?”
Cowen said that a potential capitulation event could occur around December 25th of this year, where Bitcoin reaches its lowest point before being able to get ready for another bull market.
“You could see that it would cross somewhere in late December, right around Christmas, December 25th, December 26th, December 27th, around the holidays is where it would cross.”
Crypto bear market end time is revealed
Financial advisory firm deVere Group CEO Nigel Green is optimistic that the crypto bear market is only a few months away from coming to an end.
Green said that the prices of Bitcoin (BTC) and other crypto assets would rise once inflation starts slowing down, and the central banks begin loosening monetary policy.