Bitcoin advocate Samson Mow stated that the cryptocurrency's price bottom has already occurred. He based his view on an accelerated halving cycle after an all-time high arrived 37 days before the April 2024 halving. Other analysts continue to forecast possible further declines.
Mow made the comments in an X post on Sunday. He noted that the early peak before the halving suggests traditional four-year cycles have sped up.
"The bottom is in," Mow said. He added that historical comparisons may no longer apply due to the shift.
Several analysts offered differing outlooks. Markus Thielen of 10x Research sees a likely bottom at $55,000 between August and October. Arthur Hayes of BitMEX predicted a low near $40,000 in the next six months.
James Van Straten of CoinDesk said Bitcoin may still need to fall another 15 percent or more to reach a durable bottom near the 200-week moving average.
