CandleFocus

Analysis Company Shares the Level Where It Thinks “Bitcoin Price Will Never Go Down”

Analysis Company Shares the Level Where It Thinks “Bitcoin Price Will Never Go Down”
Cryptocurrency analytics firm Alphractal predicts a long-term bullish outlook for Bitcoin, but notes a gradual decline in its growth rate. According to their logarithmic growth model, Bitcoin's midpoint is currently at $216,000 and rising. However, they have adjusted their forecast to reflect a slowing pace of market expansion over time. Alphractal considers $38,000 as the oversold threshold, below which Bitcoin would be considered undervalued. They expect this threshold to rise above $50,000 within a year, indicating an upward trend for Bitcoin's long-term price floor. Alphractal concludes that even if Bitcoin fails to meet optimistic projections, a drop below $30,000 is unlikely based on historical growth patterns. They suggest that as long as Bitcoin remains above $38,000, the current cycle will be deemed successful with many Bitcoin addresses making significant profits.

Related News