- Experts say that BTC price is getting closer to a generational bottom.
- Also, there is speculation that BTC bottom might be as low as $10k.
- BTC is now at the point where it provides investors a generational buying opportunity.
With the global crypto market trading low and BTC price tumbling, many crypto enthusiasts are optimistic, whereas many others are pessimistic about the future price value of Bitcoin (BTC).
The good news for BTC is the fact that the price is getting a lot closer to a generational bottom. On the other hand, the bad news is the fact that this bottom might be as low as $10k and it could be just months away.
The catalyst for BTC hitting this level is reportedly due to the increase in inflation expectations and policy errors from central banks all around the world. In other words, these factors combined to create the perfect scenario for an expected BTC bottom at the $10k level.
Notably, some crypto traders believe that the opposite is true as the selling pressure has reached unnatural highs already following events like the Luna Foundation Guard dumping $2.4 billion of its BTC reserves, Celsius’s bankruptcy, and the liquidation of Three Arrows Capital.
On the bright side, BTC is now at the point where it provides investors a generational buying opportunity (GBO) over the next couple of months.
Bitcoin / TetherUS 1D (Source: CoinMarketCap).
According to CoinMarketCap, BTC is currently trading at $19,222.20 after a 1.06% drop in price over the last 24 hours and after reaching a high of $19,714.34 over the same period. BTC is also down 9.66% over the last seven days.
BTC’s 24-hour trading volume is also down by 18.27% and is currently standing at $26,620,428,933. In terms of market cap, BTC is currently standing at $366,366,068,524.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies