Samson Mow says bitcoin bottom is in despite skepticism from analysts
The bitcoin advocate said his crypto bottom claim is based on the fact that the traditional four-year halving cycle has changed, although several analysts continue to expect further downside.
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Summary
- Samson Mow argues that bitcoin’s price bottom has already been set, saying the traditional four-year halving cycle has accelerated after an all-time high arrived 37 days before the April 2024 halving.
- Other analysts contend that bitcoin may not have bottomed yet, pointing to technical indicators such as bear crosses in long-term moving averages and the 200-week moving average as signs further downside is possible.
- Forecasts for a potential bottom vary widely, with some analysts seeing limited downside while others predict bitcoin could fall into the $40,000 to $55,000 range later this year before a durable low is established.
