Amid Embattled FTX Fallout What Do You Think Is The Worst Case Scenario For Bitcoin

This practically some questions we need to ask ourselves as the uncertainty as regards the market recovery, the collapse of FTX really did better than worse, as it left people questioning CeEx’s and he need for regularization of the crypto space. We the bearish period has also brought cheap entries for most of these digital assists especially the primary digital asset bitcoin.

In a YouTube session a renowned analyst took a critical look at the bitcoin market, if bitcoin has bottomed in with it’s fail of about 75% from it’s all time high, according to him he says that;

“There are a lot of cyclical indicators for Bitcoin that are probably coming up pretty soon, right?
We had major bottoms in the cryptocurrency asset class beginning of 2015, basically the end of 2014 but it bled into 2015. We had a major bottom at the end of 2018.
We’re potentially looking at another major bottom in crypto at the end of 2022 or early 2023. This would correspond to what historically would be a major bottom. And I would contend that it could be the market cycle bottom.”

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He says one of the signs which will actually present this change is if the total market capitalization for at least 125 Top digital assets is down by 20% from their current market trading levels.

“I think whether it’s the bottom or not will depend on how low it goes.
If it goes a lot lower, if it’s more than a 20% correction from here, then I think we could start to make the case the bottom is in.
If it’s not, then I still think we need to be sort of on our toes and assuming that it could still continue to take a while to play out.”

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