As Bitcoin struggles around $20.000, crypto consultant at exchange eToro, Glen Goodman, has said that BTC may be nearing a bottom before rising again.
Speaking in an interview with Bloomberg on July 13, Goodman talk that current negative articles from media platforms show Bitcoin has near bottom.
However, the consultant said that investors should not expect an immediate rally when the bottom is near.
“When you start seeing articles saying Bitcoin is dead, the market crypto is over, you can deduce that we are near the bottom.” Goodman said.
According to Goodman, the current Bitcoin price movement is nothing new and has reflected historical trends.
Bitcoin and the crypto market took a hit after the release of US inflation figures spiked to 9,1%. REMOVEitcoin wiped out about 15 billion dollars market capitalization within ten minutes of the release of the CPI report.