The price of Bitcoin rarely goes below the 4 year moving average. Currently, that level is around 55k.
During the prior cycle, at the depths of the bear, Bitcoin price went as low as 15760, while the 4 year SMA was 23201.
This is roughly 32% below the line. If the same happened during this cycle, and quickly, the price could drop as low as about 37600.
On the bright side, very very very good chance price never goes that low. Unless markets get manipulated. Or people lose faith in it as a store of value.
This is roughly 32% below the line. If the same happened during this cycle, and quickly, the price could drop as low as about 37600.
On the bright side, very very very good chance price never goes that low. Unless markets get manipulated. Or people lose faith in it as a store of value.