Following Bitcoin price falls towards $60,000 At the beginning of February, the question on every investor’s lips is when the bleeding will end. To this end, many analysts have shared their expectations and predictions about where Bitcoin’s bottom might be. Some say the worst is behind us, while others suggest that even more accidents lie ahead. Following this latest trend, crypto analyst Plan C shared why they believe Bitcoin’s price has finally bottomed out.

This time, an 80-90% Bitcoin crash is not possible

In previous cycles, when the Bitcoin market has gone from bull market to bear market, there have been varying degrees of crashes that occurred before a bottom was established. In the last few bear markets, it has been about 80-90% crashes, often caused by major market events.

Following this trend, expectations persist that Bitcoin may also experience a similar crash, which would mean that the bear market is not over yet. However, crypto analyst Plan C has opposed this idea because he believes that Bitcoin will not repeat the exact same trend as before.

Instead of an 80-90% crash that is expected to put Bitcoin in the $25,000-$30,000 range, the analyst says that Bitcoin will only fail 50-60% this cycle. If this is true, it would mean that Bitcoin is not far from registering a bottom at this point.

Given this, his prognosis, it would mean this Bitcoin price bottom somewhere between $50,000 and $63,000. Considering that the BTC price has previously fallen below $63,000, this means that the bottom may be at or near this location.

Such a deviation would mean that Bitcoin will no longer follow the trend established trend of the 4-year cycle. This is not a novel theory, as analysts have suggested in the past that the digital asset started to deviate from its 4-year cycle when it hit a novel all-time high in early 2024, before the halving. This was due to institutional entry via Spot Bitcoin ETFs, which triggered a novel wave of growth.

While there are still predictions and speculations about Bitcoin’s lowest price in the crypto community, it remains a matter of time what will ultimately happen. For now, the bulls continue to fight, trying to send the price above $70,000 again. However, sentiment remains overwhelmingly negative as the Fear and Greed Index continues to remain at Extreme Fear.

Featured image from Dall.E, chart from TradingView.com