How Low Can Bitcoin Go?

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In this video, I discuss possible Bitcoin price targets to the downside, by examining both the 200-week moving average (WMA), as well as the MVRV ratio indicator.

The 200 WMA is currently at $21,959.

If Bitcoin trades 15% below its realized on-chain value of $24,000, that would take us down to $20,400.

$20,000 is also an extremely important level, since it is the all-time high from Bitcoin's previous cycle.

Either way, Bitcoin should find good support in the $20,000 to $22,000 area. Spending more than a day or two below $20,000 would be a very bad sign indeed.

Not investment advice! Consult a financial advisor.

Bitcoin MVRV ratio chart:
https://charts.woobull.com/bitcoin-mvrv-ratio/

Bitcoin realized price:
https://insights.glassnode.com/the-week-onchain-week-20-2022/

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

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