Has Bitcoin hit the bottom?
1. In March, Bitcoin reached 70,000. At that time, the market cheered and was optimistic that Bitcoin would continue to hit 100,000. Based on the overheating of indicators such as MVRV, we constantly remind that Bitcoin faces the risk of a correction.
2. In May, based on the UPRD indicator, we judged that the recent bottom of Bitcoin was 51,000-58,000. Through the trend of these few months, it seems that Bitcoin has found support in the 50,000 range.
3. In my opinion, it is meaningless to predict prices, because predictions are based on known information, and the operation of the market is unknown. If a black swan event such as a nuclear war or an alien invasion occurs, then predicting prices is meaningless. Since it is meaningless, why does my brother want to predict? It may be more to help myself establish an anchor.
