What if the real bottom is much higher than most people expect?
Right now, $BTC is trading at $63,549 and $ETH is at $1,862.
If $BTC finds its cycle low around $50k, that would be about a 21% drop from today. In my opinion, a $50k bottom would actually be very bullish for a bear market since it would only be around a 60% drop from the all time high.
Since ETH usually moves with even more volatility than BTC, a 30% or bigger drop would not be surprising. That would put ETH somewhere around $1,300 or even lower.
ETH is also running into resistance right now, so lower prices still look possible.
Just some simple napkin math.
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Right now, $BTC is trading at $63,549 and $ETH is at $1,862.
If $BTC finds its cycle low around $50k, that would be about a 21% drop from today. In my opinion, a $50k bottom would actually be very bullish for a bear market since it would only be around a 60% drop from the all time high.
Since ETH usually moves with even more volatility than BTC, a 30% or bigger drop would not be surprising. That would put ETH somewhere around $1,300 or even lower.
ETH is also running into resistance right now, so lower prices still look possible.
Just some simple napkin math.
#Write2Earn