Recently, Bitcoin has rebounded from annual lows, forcing many traders and investors to believe that, perhaps, cryptocurrency No. 1 has reached the bottom and there will be no new minimums. But many experts are confident that the decline is a long process, not yet completed for BTC.
At the moment, BTC / USD is trading at a price of $ 4,159. It is worth noting that after rising by more than 15% of the minimum of $ 3,500, the bulls are in no hurry to push the BTC price further. Experts consider this a sign that the bottom has not yet been reached.
Also, previous experience shows that it usually takes several weeks for an asset class to decline for many months in a bear market. The asset should be consolidated near the bottom in a limited range. Therefore, it is likely that it will take several more weeks, and maybe more time, before Bitcoin truly reaches the bottom.
And what do you think about this? Bitcoin hit its lows? Or will the decline continue?
