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 renowned crypto analyst and trader, known anonymously as Rect 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.
According to analysts once bitcoin reaches its bull market peak, the currency will typically hit its absolute lows over the next 365 days. So if history repeats, it has been 300 days since the peak of bitcoin’s bull run and so it is almost 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.
In addition, Rect Capital states that it is important for investors to maintain a strategic approach rather than a humble investment approach.
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 0.18% drop in the past 24 hours.
