{"id":516445,"date":"2022-11-26T19:30:00","date_gmt":"2022-11-26T16:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/how-low-can-the-bitcoin-price-go\/"},"modified":"2022-11-26T19:30:00","modified_gmt":"2022-11-26T16:30:00","slug":"how-low-can-the-bitcoin-price-go","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/how-low-can-the-bitcoin-price-go\/","title":{"rendered":"# How low can the Bitcoin price go?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2f044a18cfd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2f044a18cfd\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/how-low-can-the-bitcoin-price-go\/#%E2%80%9D_How_low_can_the_Bitcoin_price_go_%E2%80%9C\" >&#8221; How low can the Bitcoin price go? &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/how-low-can-the-bitcoin-price-go\/#CryptoBullet_%E2%80%9CComfortable_buying%E2%80%9D_around_16000\" >CryptoBullet: \u201cComfortable buying\u201d around $16,000<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/how-low-can-the-bitcoin-price-go\/#Filbfilb_6500_as_%E2%80%9Cworst_case_scenario%E2%80%9D\" >Filbfilb: $6,500 as \u201cworst case scenario\u201d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/how-low-can-the-bitcoin-price-go\/#Many_eyes_on_the_14000_prize\" >Many eyes on the $14,000 prize<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_How_low_can_the_Bitcoin_price_go_%E2%80%9C\"><\/span>&#8221; How low can the Bitcoin price go? &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5129e2ea>Bitcoin (BTC) has spent over a year in a downtrend since its $69,000 all-time highs in November 2021.<\/p>\n<p>BTC price performance has given investors up to 77% losses, but how much lower can BTC\/USD really go?<\/p>\n<p>Bitcoin traders and analysts have long agreed that 2022 is the year of the largest cryptocurrency\u2019s newest bear market.<\/p>\n<p>After coming off all-time highs to start the year at around $46,000, BTC\/USD has offered little relief and has since returned to levels not seen since November 2020, data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0confirms.<\/p>\n<p>That has placed the pair in historical bear market bottom territory \u2014 having lost a maximum of around 77% since the most recent peak, Bitcoin could have little room left to fall.<\/p>\n<p>This time, however, may be different. Cointelegraph takes a look at what some of the most popular crypto market commentators think when it comes to where Bitcoin will bottom.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"CryptoBullet_%E2%80%9CComfortable_buying%E2%80%9D_around_16000\"><\/span>CryptoBullet: \u201cComfortable buying\u201d around $16,000<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One well-known <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> personality is sticking by a theory from earlier in 2022 \u2014 and it\u2019s all about one particular on-chain metric.<\/p>\n<p>For CryptoBullet, Cumulative Value Days Destroyed (CVDD) still offers a key insight into macro BTC price bottoms.<\/p>\n<p>CVDD essentially counts how much \u201chodled\u201d days a coin has accumulated when it moves to a new wallet. It is expressed as a ratio to the overall age of the market, divided by 6 million, which analytics resource Woobull <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/charts.woobull.com\/bitcoin-price-models\/\">explains<\/a> is a \u201ccalibration factor.\u201d<\/p>\n<p>Looking back in time, CVDD has acted as a significant line in the sand, and if this time is no different, BTC\/USD could already be giving buyers the best possible profit opportunity.<\/p>\n<p>According to Woobull, CVDD currently lies at around $15,900.<\/p>\n<p>\u201cI feel comfortable buying Bitcoin here at CVDD,\u201d CryptoBullet <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoBullet1\/status\/1596468491816951809\">told<\/a> Twitter followers on Nov. 26. <\/p>\n<blockquote><p>\u201cCan it go lower? Of course it can. If another crypto company goes bankrupt or something like that $BTC will fall below CVDD, but not by much. The bulk of the downtrend is over.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/a23d807f-0c1a-4a94-a119-e7f757ad5684.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin Cumulative Value Days Destroyed (CVDD) annotated chart. Source: CryptoBullet\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Filbfilb_6500_as_%E2%80%9Cworst_case_scenario%E2%80%9D\"><\/span>Filbfilb: $6,500 as \u201cworst case scenario\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>An old hand in the crypto market is constantly reevaluating just how bad the bears may bite this time around.<\/p>\n<p>Filbfilb, co-founder of trading suite Decentrader, recently told Cointelegraph that BTC\/USD could see $10,000 around the new year if macro conditions worsen.<\/p>\n<p>That was before the FTX debacle, however, and the resulting fuel added to the bear market fire has caused him to reconsider.<\/p>\n<p>In a\u00a0livestream together with fellow co-founder, Philip Swift, Filbfilb thus outlined areas of strong bid support as potential bottoms.<\/p>\n<p>These vary, however \u2014 a large \u201cladder\u201d of bids lies just below spot price and focuses on $12,000-$14,000. At the same time, ultimate support could come as low as $6,000.<\/p>\n<p>Filbfilb additionally noted that a black swan event such as further crypto bankruptcies could trigger a spike through the upper support field, opening up the potential for $10,000 or lower next.<\/p>\n<p>A <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a> to the $6,000 zone, however, is \u201cunlikely\u201d under current circumstances, he advised.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/66e1c131-6a09-40ac-9ef0-538f0d6670a1.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-week candle chart (Bitstamp) with liquidity heatmap data. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Many_eyes_on_the_14000_prize\"><\/span>Many eyes on the $14,000 prize<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Filbfilb\u2019s upper band of bid support on exchange order books is a popular target for an increasing number of commentators.<\/p>\n<p><strong><em>Related:\u00a0Will Bitcoin hit $110K in 2023? 3 reasons to be bullish on BTC now<\/em><\/strong><\/p>\n<p>As Cointelegraph reported, $14,000 is now a significant spot on the radar, and entries around there are already being planned.<\/p>\n<p>That area would also bring BTC\/USD losses <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&amp;category=&amp;m=market.PriceDrawdownRelative\">versus all-time highs<\/a> in line with those of previous bear markets.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/2c1a58bc-ee59-468a-bd6c-b54a6bd1fced.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD drawdown vs. all-time highs chart. Source: Glassnode<\/em><\/figcaption><\/figure>\n<p>Not only that, but $13,900 forms a significant support line on weekly timeframes, trader and analyst Rekt Capital notes, one which has remained untested since the second half of 2020.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/2a638e50-5848-4949-945b-b782a31781e5.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Rekt Capital\/ Twitter<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/how-low-can-the-bitcoin-price-go\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; How low can the Bitcoin price go? &#8220; Bitcoin (BTC) has spent over a year in a downtrend since its $69,000 all-time highs in November 2021. BTC price performance has given investors up to 77% losses, but how much lower can BTC\/USD really go? Bitcoin traders and analysts have long agreed that 2022 is&#8230;<\/p>\n","protected":false},"author":1,"featured_media":516446,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvN2EwNzM2NmEtNzRmMy00NGI4LWIzYjYtZGM0ZDlmNDRkODg1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785,68637],"class_list":["post-516445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets","tag-predictions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/516445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=516445"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/516445\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/516446"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=516445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=516445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=516445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}