Everyone’s asking, “When is the Bitcoin bottom?” This is one of the charts I watch that has consistently nailed the Bitcoin bottom since its creation. I’m looking at September to October for a bottom. Bitcoin bear markets on average last about 1 year.
There has been only 1 cycle in which the bear market lasted over a year.
Chart Information
The chart above (top) shows the logarithmic Bitcoin price action on the 2-week chart. The bottom chart is the MVRV-Z chart. Green represents the fair value of Bitcoin.
Green = fabulous buying opportunities.
I’ve added blue vertical lines that mark the bottom of every 4-year cycle to help you see the pattern between the 2 charts.
If you do not have Tradingview setup. Here’s a link to the same chart using the same MVRV-Z indicator on Bitcoin Magazine’s website.
Analysis
Now that you see this MVRV-Z chart compared to Bitcoin price action, all in 1 chart, I think you’ll see what I’m stating here.
We’re due a bottom, currently almost 7 months into the bear market. Based on history, odds are high that we see a bottom near September-October. My projections say we have 1 or 2 more legs down.
Currently, the MVRV-Z score is around .98-1. My preferred buy zone is below zero in the green, closer to -0.30.
This should put Bitcoin in the price range of 33-42K.
Hayes Screaming Bottom is In for Bitcoin
Billionaire investor/trader Arthur Hayes says the bottom is in for this cycle. He states 60k was the market cycle bottom. He goes on to state we’re not going to 30k. Here’s a link to the article for more information.
I post these kinds of things to show you. This stuff is never-ending with crypto. Never follow the herd. Don’t fall for this garbage. Don’t follow the investors/influencers. Separate yourself, and trust in the charts and technical analysis.
It’s funny watching people like this because when it turns out they’re wrong, they just move the goal post.
I’ll be patiently waiting for the bottom. If you follow the website or are in my trade group, you’ll be the 1st to know when we find bottom.