How Low Can Bitcoin Go Will It Witness A New Floor Price Or Hold Support Level
It’s a “max pain” model for bitcoin as a popular analyst is looking closely at the bitcoin chat, which is revealing that bitcoin will experience a down trend soon enough.
On a twitter session the analyst who goes by the name Willy woo who is estimating that bitcoin will see a new bottom, that we are looking at 58% to 61% of loss from the purchase price which out rightly puts it that investors are at a loss.
“Bitcoin bottom is getting close under the Max Pain model.
Historically BTC price reaches macro cycle bottoms when 58%-61% of coins are underwater (orange).
Green shading adjusts for the coins locked up inside GBTC Trust.”
Form the chat is appears that bitcoin can actually move a leg down to selling at $12k price range, which for a while now has been predicted.
Woo says that bitcoin is using the CVV model to test for a new floor price.
If you see this post on a Web2 ecosystem and you have no clue about what Leofinance is here is a brief definition;
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
Over here we refer to users as lions, so are you ready to be a lion here is my referral link
Also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in growing the pHBD-USDC liquidity and also take out time to participate in the Leo power up challenge which happens every 15th of each month.
Let’s also connect on some of the web2 platform.
Posted Using LeoFinance Beta