Bitcoin has been incessantly fluctuating between the $19,000-$20,000 price levels, which has kept the entire crypto market under bearish control.
Meanwhile, a well-known crypto analyst and trader, anonymously known as Rekt Capital, has provided a time frame when Bitcoin (BTC) will finally find its bottom.
Rekt Capital took to Twitter to inform its 328,000 followers that the Bitcoin bottom is just around the corner and may form in a year once it reaches the bull market height.
As per analysts once Bitcoin attains its bull market peak, the currency usually reaches its complete bottom in the next 365 days. So if history is repeated it’s been 300 days since the time when Bitcoin had its bull market peak and hence it’s around two months away.
Bitcoin Price At New Lows
Next, the expert says that Bitcoin is nearing the bottom of its bearish trend, which is a moment when market participants should seize the chance; conversely, investors’ sentiment toward bitcoin (BTC) is low.
Furthermore, Rekt Capital says that it’s crucial for investors to maintain a strategic approach instead of a submissive investing attitude.
He tries to encourage traders by quoting that the traders should approach trading with the question that what will they do if there are new Bitcoin lows.
Bitcoin is changing hands at $20,046 after a drop of 0.18% in the last 24hrs.