The cryptocurrency Bitcoin is facing a massive bearish downturn at the start of 2022. It has fallen to 37K dollars, which is nothing short of a nightmare for Bearish investors. Experts all over the internet are arguing about Bitcoin’s bottom. Many experts think that Bitcoin’s bottom will be around 30K according to the previous data on its Bearish trends. The data upon which this prediction is based is from the mining ban period in China and when the pandemic struck. Both of these events triggered BTC’s downfall due to obvious reasons.
There’s still hope
Quite a few of the DeFi pundits are deeming this fall to be temporary. They’re urging investors to hold on for dear life amidst the panic selling. This panic selling will only benefit the big bullish investors whose finances allow them to buy massive amounts during the dip.
On the other hand, some experts think that there’s no way in which a bottom value for Bitcoin can be determined. Certain notable personalities in the past year have prophesized about the burst of the crypto bubble and BTC’s imminent downfall below 10K dollars. Those fears are still there in small-time investors as they don’t want to risk it all.
Some experts have pointed out the fact that Bitcoin is still an up-and-coming asset that will reach greater heights. To justify this claim, they point out that its market cap is still less than 1 trillion dollars versus global equities worth almost 100 trillion dollars. That gives the crypto coin an advantage in the long run.