With all the market volatility and current Bitcoin prices, this is the right time to buy, according to an analyst. It is considered a “no-brainer” opportunity. In 2022, BTC faces a so-called “cycle bottom”, which means that it could be half its current value. This is what research indicates.
Based on historical trends related to BTC’s cycles of halving, this year will be bearish, according to Venturefounder. Venturefounder is an analyst who follows crypto trends closely. Just like in 2018, BTC should touch a macro floor sometime in 2022. Calculating previous price dips against its all-time highs, the price could range between $14000 to $21000. Halving is expected to take place in the next 670 days or so.
According to the trend, BTC prices will hit bottom and then rise to range between $28000 to $40,000 in 2023. Such a prediction is not good news for the bulls, but it is most likely to happen. BTC has been cycling through such changes starting in 2018. Even a high in 2019 was not good enough to counter the high set in December 2017 at a price of $20000.
Simply put, buying BTC starting now and for the next 12 months or so is a good idea. While it may not be at the cycle’s bottom, investors are within that range. The best time to buy is to do so during such cycles. The buying price of $14000 is an 80% drop from its high of $69000.