Is the bottom in? Since Bitcoin (BTC) fell precipitously to $6,600 late last month, analysts have been asking if the leading cryptocurrency has finally found a price bottom after a multi-month downturn.<\/p>\n
Analysts have understandably divided over the question, as the correct answer would show in which direction Bitcoin will head for the next couple of months. Some are bullish, others are bearish.<\/p>\n
Some suggest that there may be another drop before the crypto asset finally finds a bottom.<\/p>\n
Top cryptocurrency analysis account BitcoinEconomics.io recently noted<\/a> that they believe BTC “going down to $5500 in Q1 2020 seems a likely scenario,” adding that there is likely going to be another accumulation and shakeout phase before a slower uptrend.<\/p>\n BTC going down to $5500 in Q1 2020 seems a likely scenario. It may even touch $8k before that. More shakeout and accumulation before a sustained and slower upward trend is likely.<\/p>\n A few people predicted such a second smaller "bear market" in the first half of 2019. https:\/\/t.co\/s9Px4SgUGr<\/a><\/p>\n — BitcoinEcon (@BitcoinEcon) December 21, 2019<\/a><\/p><\/blockquote>\n\n