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There’s a possibility Bitcoin bottomed at $3,800: here are 3 reasons why There’s a possibility Bitcoin bottomed at $3,800: here are 3 reasons why

There’s a possibility Bitcoin bottomed at $3,800: here are 3 reasons why

Bitcoin has arguably had its worst week ever; after peaking at $9,200 last weekend, the cryptocurrency plunged as low as $3,800, marking a drop of 60 percent in under seven days’ time.

There’s a possibility Bitcoin bottomed at $3,800: here are 3 reasons why

Cover art/illustration via CryptoSlate

Bitcoin has arguably had its worst week ever; after peaking at $9,200 last weekend, the cryptocurrency plunged as low as $3,800, marking a drop of 60 percent in under seven days’ time.

Although the price of BTC has since recovered to $5,400, with the asset showing remarkable strength in the wake of a capitulation event, some fear a return to the $3,000s, citing the bearish macro backdrop in global markets.

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