Summary of This Round of Price Drop Perspectives: Bitcoin Final Bottom Predicted as Low as $75,000

BlockBeats News, November 18th: Bitcoin fell below $90,000 for the first time in nearly 7 months, with a daily decline of 5.9%, more than 28.7% from the recent high. When will the decline stop, and at what price range will the final bottom be found? BlockBeats has summarized the main analysis points before and after this round of decline as follows:

Placeholder VC partner Chris Burniske stated that the characteristics of a market top have appeared, and he plans to re-enter BTC when it drops to $75,000 or lower. The sharp drop on October 11th has had a lasting impact on the market, making it difficult to quickly form sustained buying pressure. The monthly charts of BTC and ETH show cracks, but they are still within the "top range." Furthermore, the decline in MicroStrategy (MSTR) stock price, warnings in the gold and credit markets, suggest that a broader asset adjustment is imminent.

BitMEX co-founder Arthur Hayes mentioned that Bitcoin may first test $80,000 to $85,000 before rising to $200,000 to $250,000 by the end of the year. In his latest blog post, he stated, "Bitcoin has dropped from $125,000 to around $90,000, while the S&P 500 and Nasdaq 100 indices are still hovering near all-time highs, which leads me to believe that a credit event may be brewing. If a more extensive risk market collapse occurs, with the Federal Reserve and Treasury accelerating money printing, Bitcoin could surge to $200,000 to $250,000 by the end of the year."

Chinese crypto analyst Banmuxia said: Bitcoin may first drop to $94,500 before entering a complex oscillating market, with a final bottom near $84,000. "This is likely to be a complex sideways adjustment. Currently, it may see a slight decline to around $94,500, then likely enter an unusually complex oscillating market, with a rebound possibly reaching above $116,000, and then slowly dropping to around $84,000 and below in the 6-8% range."

Ethereum's first-position institution Bitmine Chairman Tom Lee stated that it will take 6 to 8 weeks to repair the market impact caused by the liquidity gap faced by market makers, which may ease after Thanksgiving (November 27th). The pain is short-term and will not alter ETH's super cycle (i.e., Wall Street building an ecosystem on the blockchain).

Liquid Capital (formerly LD Capital) founder Yi Lihua commented: "We believe the current position is the best for spot bottom fishing and are optimistic about the subsequent market trends. When others panic, it's time to be greedy. In the world of digital assets, one day is like ten years; in reality, it's only a little over a month from the peak. However, buying when the bad news is exhausted is a better choice than selling."

Bloomberg Businessweek's Person of the Year, two-time China's Most Influential Economist Hong Hao, posted on Xiaohongshu, stating that Bitcoin has fallen to $92,000 and may only find meaningful support after dropping to the $70,000 range.

Trader Eugene Ng Ah Sio, on the other hand, mentioned that he is starting to go long and has increased his ETH and SOL long positions. "Increased my long positions in ETH and SOL. The oscillators have clearly returned to the oversold zone, and I believe it is time to start adding back to my risk exposure in this market."