Bitcoin Bottoming Phase Predicted by PlanB

Digital-asset analyst PlanB believes that Bitcoin has entered a bottoming phase and may see further declines in the next one to three months. According to PlanB, when Bitcoin trades below its Realized Price, it indicates an excessively undervalued market. The Realized Price is an on-chain metric reflecting the average purchase price of market participants.

PlanB stated that the market appears to be in the early stages of forming a bottom, and investors should conduct sufficient research before making investment decisions. Bitcoin ended July at $62,818, but PlanB notes that this period may last one to three months and often results in further declines below the Realized Price.