The Bottom of Bitcoin — Are We There Already? Analysts discuss the factors affecting the price of BTC

$20,000 becomes the 'new' resistance for BTC price, even though multiple indicators are screaming 'buy'. Analysts share their views on the future of Bitcoin price.

Interview

When Bitcoin was trading above $60,000, the smartest analysts and finance-conscious people told investors that the price of BTC would never fall below its previous all-time high.

These same people also said $50,000 was a downside buying opportunity, and then they said $35,000 was a generational buying opportunity. Later, they also suggested that BTC would never fall below $20,000.

Of course, “now” is the perfect time to buy the dip, and you would think that buying BTC at $10,000 or less would also be the purchase of a lifetime. But to this day, all the so-called "experts" have been silent and cannot be seen or heard anywhere.

Thus, investors are left to their own devices to determine whether or not the bottom has been reached. Should we be patient and wait for the forecast to "drop to $10,000" or is now the time to buy Bitcoin and altcoins?< /p>

Usually calling the lowest prices is a futile task. What is really important to focus on is whether or not there are fundamental reasons for choosing whether or not to invest in Bitcoin.

Of course, the price has changed dramatically, but have the fundamentals of the Bitcoin network and the infrastructure surrounding Bitcoin as an asset improved or deteriorated? It's important to zoom in on this data, because for investors, that's where their confidence and investment thesis comes in.

This is exactly why Cointelegraph hosted a Twitter space with analysts Joe Burnett of Blockware Solutions and Colin Harper of Luxor Mining. Here are some highlights of the conversation.

Stock Markets Will Decide When Bitcoin Price Can "Go Back Up"

According to Blockware Solutions analyst Joe Burnett, the price of Bitcoin is heavily impacted by Federal Reserve policy and its impact on stock markets. Burnette said:

“The macro environment is obviously weighing heavily on Bitcoin price. High CPI inflation has led to an aggressive Fed since November 2021. Higher interest rates inevitably drive all assets down Interest rates are basically the gravity of financial assets, just fundamentally di...