Another day, another price prediction. They are coming thick and fast at the moment as analysts and industry observers scramble to predict where the bottom will be. Some are more optimistic than others, but it is to be expected that JP Morgan is firmly on the pessimistic side of the fence.
Yesterday we took a look at fractal patterns to predict a bottom of around $2,500 for Bitcoin which is quite plausible given the current market lethargy. That low is only a thousand dollars away from today’s price and would involve another 30% dump similar to the one in mid-November.