Bitcoin Bottom New Prediction Is Out – Will BTC Go Lower?

The crypto market is struggling to recover these days following massive losses in the process for the most important digital assets. At the moment of writing this article, BTC is trading in the green and the king coin is priced at $20,928.

Mobius Capital Partners co-founder Mark Mobius said recently that Bitcoin has not reached its bottom yet after a prolonged downtrend.

According to a new Bloomberg report, the investor is a that the digital assets tend to correlate with stocks.

“Cryptocurrencies are a measure of investor sentiment. Bitcoin goes down, the next day the Dow Jones goes down. That’s the pattern you get. That shows that Bitcoin is a leading indicator.”

Mobius also says he believes the best time to start purchasing stocks is when investor sentiment is at a low after both institutional and retail traders suffer heavy losses and “throw in the towel.”

The investing veteran then says as long as BTC traders are looking to buy Bitcoin when its price dips, there is still room for Bitcoin to fall.

“[As long as traders] are still talking about buying on dips that means there is a feeling of hope. That also means that we have not reached the bottom of a bear market.”

Despite the massive volatility that we have been seeing in the crypto market lately, there are still a lot of optimistic predictions about the price of Bitcoin these days.

An important Bloomberg analyst said that there’s a specific financial factor that could benefit gold and Bitcoin as well.

Accoridng to the latest reports, Bloomberg’s senior commodity strategist Mike McGlone said that a new deflationary period may be arriving to the financial landscape. More than that, Bitcoin (BTC) and gold could benefit from it.

The analyst said not too long ago that plummeting risk-on assets may evolve into a deflationary phase that boosts the king coin, the yellow metal, and US bonds. Take a look at our previous article in order to learn more details about this.