Analyst that called Bitcoin’s drop to $3,000 in 2018 says the “bottom could be in”

On Nov 25., the price of Bitcoin fell off a proverbial cliff, tanking from $7,000 to $6,500 in a move that shocked traders the industry over. Since then, the cryptocurrency market has stabilized, with BTC, for instance, now finding itself nearly 15 percent higher than it was at the lows of that one fateful day.

While this recovery is not 100 percent indicative of a bottom, a number of analysts are coming to the conclusion that there’s a good likelihood that Bitcoin’s pain stopped when it plunged to $6,500 late last month.

One such analyst touting this sentiment is FilbFilb, a pseudonymous cryptocurrency trader that called the mean reversion move to the low-$3,000s in September of 2018, which was when BTC was flatlining in the low-$6,000s, a trend that analysts argued was bullish at the time.

Heres my updated doom senario for $btc.

The only change since Dec 4th ’17 is the time it takes to get to the mean line, which has worked in the bulls favour.

I still think there is a reasonable…