Has bitcoin already hit its bottom?

• With the world currently going through an uncertain and extremely unpredictable time, many people in the industry want to know where bitcoin will go next.
• The bitcoin halving is set to occur in May and was perhaps the most anticipated event to happen in the cryptocurrency industry for a long time. 

With the world currently going through an uncertain and extremely unpredictable time, many people in the cryptocurrency industry want to know where bitcoin will go next.

The bitcoin halving is set to occur in May and was perhaps the most anticipated event to happen in the cryptocurrency industry for a long time. With everything going on with the coronavirus spreading at an alarming rate and the economy at the worst it’s been since 1929, many investors in traders are worried about what will happen to their favourite cryptocurrency.

On the 12th of March, bitcoin experienced a very harsh crash followed by a continuation which made all the market plummet. Many people are curious as to where the bitcoin bottom is at. One analyst took to Twitter at the time saying that the bottom for the leading cryptocurrency was at $3850.

It's hard to say if #Bitcoin bottomed, but the way we bounced off $3,850 is very promising. This is how markets bottom but NOTHING about this $BTC 2yr Bear Market has been standard.
Ex: These capitulations 'usually' drive price to NEW lows but we stayed above $3,150. pic.twitter.com/zD3FT1reeD

— Tone Vays - TheFinancialSummit.com (@ToneVays) March 13, 2020

Tony Vays previously said that the flagship cryptocurrency could end up dropping to around $2800 but now, he seems to have changed his outlook as he recently said the following:

“While I thought that $2,800 was possible coming off of June, I don’t think it’s likely anymore. Because I think this incident earlier this month was close enough to $2,800 that I’m no longer expecting $2,800. So if I’m not expecting $2,800, I’m obviously not expecting $1,000 or $1,300 or $1,500.“

But who knows where bitcoin will go from here? It will be interesting to see how this situation plays out. For more news on this, the bitcoin price and other crypto updates, keep it with CryptoDaily!