As reported by CryptoPotato, BTC price fell to a two-month low of $59,130 ​​in early morning trading on May 1. This is the first time the asset has fallen so low since late February, when market momentum was bullish. Now that the monthly support has broken, analysts are eyeing the next phase and the bottom of the expected market correction. Raoul Pal, founder and CEO of Global Macro Investors, observed that this is the fourth correction of this magnitude in the past 12 months. Moreover, corrections in previous bull cycles were larger, so there could be more pain before gains resume. Crypto analyst 'Cold Blooded Shiller' said that lower levels still pave the way for a full retracement of 30% from the highs, and the bear market is still in control. Such a drop could take BTC price down to $52,000. Meanwhile, Charles Edwards, founder of Capriole Fund, agreed that adjustments are normal, adding: "If you can't accept some downside in this asset class, you shouldn't be here. Especially now."