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Opinion: Bitcoin has fallen to a low of $55,000 this round, and the "$35,000 bottom theory" is nonsense.
On December 2, crypto analyst @Sykodelic_ expressed the opinion that some people believe Bitcoin will fall to $35,000, which is complete nonsense. First, for Bitcoin to drop 75%, it must fully expand, and it hasn't done that in this cycle. The entire market currently resembles 2019, not 2018 and 2021. Around the end of QT in 2019, Bitcoin fell to the middle band of the Bollinger Bands and found support. Therefore, the worst-case scenario is if this is a severe Bear Market… If Bitcoin's Closing Price is below the monthly middle line, then the expected maximum bottom could reach $55,000.