According to ChainCatcher, Jiang Zhuoer, founder of Bitcoin mining pool B.TOP, used historical data from the previous three Bitcoin bull-bear cycles to forecast the bottom of the current bear market. He said the drawdown ratios across four cycles are 86.9%, 84.1%, 77.6% and 65.1% (the current cycle's forecast), corresponding to a BTC price of $44,016, with the bottom expected to appear on October 31.
According to ChainCatcher, Jiang Zhuoer, founder of Bitcoin mining pool B.TOP, has made a prediction for the bottom of the ongoing bear market based on the previous three Bitcoin bull-bear cycles. Citing historical data fitting, he stated that the drawdowns across the four cycles are 86.9%, 84.1%, 77.6% and 65.1% (the current cycle's forecast), corresponding to a BTC price of $44,016, with the bottom expected to appear on October 31.
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