What is the million-dollar question that everyone wants to know? ‘When will Bitcoin bottom out in price?’ On January 20, 2025 – the day Trump became president – it had reached a record high of $108 786. The price of the car began to fall after trade wars broke out as Trump placed tariffs on Canada Mexico and China. It was not just the United States that suffered from trade disputes. Even Europe’s closest allies were affected by the anger of countries across the Atlantic.
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Bitcoin is now trading at $82,400 after losing nearly 25% in value. The price had plummeted to $76,000 on Monday when the US stock index dropped 890 points. Although the leading cryptocurrency has recovered in value, investors are still skeptical due to unfavorable market conditions.
Bitcoin: when will it bottom out?
Arthur Hayes is the former CEO at BitMex and predicts Bitcoin will face more corrections to its charts. Investors should avoid taking positions in BTC now, as it could go south. As traders look for safe havens, the stock and cryptocurrency market could be trimmed. As the economy continues to improve, gold is seeing an increase in funds. XAU/USD On Wednesday, the index rose above $2900. This glittery material is currently trading around $2,920. The Trump tariffs are causing a large amount of demand for the metal.
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Hayes predicted that Bitcoin’s price could fall to its lowest point at the $70,000 level next. This is another approximately 15% off the current $82,400 price. “BTC likely bottoms around $70,000. A 36% correction from the all-time high is very normal for a bull market. You might not catch the bottom but you also won’t have to mentally suffer through a long period of sideways and potentially unrealized losses,” He has written on X.
Hayes says that investors should wait to enter the Bitcoin market before they do. You should stay out of the market during a dip, and then go long once BTC hits the $75,000 range.
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Source: watcher.guru
