Bitcoin Price Hits 2018-Low at $5,825, Where Will it Bottom Out?

The price of bitcoins fell below $ 5.900, after initially falling below $ 6000 on June 23rd. After four consecutive sales, as shown in the price chart for bitkans 1 hour lower, the BTC officially fell to an annual low.

In February, the price of bitcoins recorded a significant drop from about 8,000 dollars to the lower limit of 6,000 dollars, reaching a mark of 6,050 dollars. However, on 24 June the fall of the BTC continued to a higher level of $ 5,000, for the first time entering into $ 5,000 from the beginning of November.

Almost identical to 2014
The price trend of BTC is almost identical to the fall of BTC in 2014, when it experienced an 80 percent correction from its record high. It is clear that the fall of the BTC in 2014 and 2018 does not make any difference, given that both amendments were caused by the eruption of the retail investor's bubble.

From May 29 to June 10 bitkoyn and the rest of the crypto-currency market seemed to recover, which fixed 12 days of stability and successive minor wins. But, the massive sell-off on June 11, which led to a sharp drop in the price of BTC from $ 7,700 to $ 6,670, initiated another short-term correction, which led to the BTC dropping to $ 5,000.

The trend of BTC's price was almost identical to the script provided by the researcher of the crypto currency and investor Willie Wu at the end of May. Wu said that because of the extreme volatility in the market and the low daily trading of the BTC, it is likely that the BTC will experience a slow decline to $ 5,500.

As of now, many traders see the bottom of the BTC about $ 5,000, some of them below $ 5,000. But, if the market can not bounce at all and show signs of medium-term recovery, it's hard to see that the BTC fell below $ 5,000.

Moreover, a drop from $ 20,000, a high BTC price to $ 5,000, will result in a 75 percent drop from its record high, and a fall below this mark will cause BTC to make a correction that is worse than its correction in 2014 .

Given the difference in the level of interest, hype and demand for the crypto currency market, especially among investors in the public market, it is unlikely that the BTC will fall below $ 5,000 and it is likely that BTC will fall in a lower region of $ 5,000.

Assuming that $ 5,000 for the BTC, where does it go?
Investors in the public market, especially on Wall Street, often show a serious interest in the asset or product, which in the short term is reduced by 70-80 percent, because it represents a viable purchase opportunity.

Medium and long-term traders and investors are not participants in trading; they are aimed at investment opportunities that can bring strong benefits in the next 12-24 months.

Bitcoin saw this precise movement in 2010 and 2014 and minor adjustments between 2014 and 2018. Each correction resulted in BTC bouncing off its previous record highs and setting a new high in the region, which is 100-300 percent higher than the previous region.