RATE Group | Bitcoin Price Will Drop $1,000 Before Seeing Real Bottom: Here’s Why
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Bitcoin Price Will Drop $1,000 Before Seeing Real Bottom: Here’s Why

23 Dec Bitcoin Price Will Drop $1,000 Before Seeing Real Bottom: Here’s Why

Posted at 21:40h in Cryptocurrency News by

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Bitcoin price is finally exhibiting price action that suggests it could be building a base in which a final local bottom could set.

However, according to one crypto analyst, the first-ever crypto asset is likely to take another last-minute $1,000 dive to retest lowers before going on the real rally, offering crypto investors one final shakeout to hold through before the bull run returns.

Final Shakeout Expected Before Bitcoin Price Finally Bottoms

As the year comes to a close, Bitcoin may finally be once again returning to the bullish momentum it had during the first half of the year. During that time, Bitcoin exploded out of its bottom trading range below $4,000, resulting in a multi-month parabolic rally and as much as a 350% return on investment from through to peak.

Related Reading | Bitcoin Price Reaches Fair Market Valuation, While Costs of Production Rise

But after Bitcoin price set a high for the year, it’s been steadily falling deeper back into a downtrend that has shown no…

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