Bitcoin Price May Be Near Bottom as Long-Term Indicators Converge

Bitcoin's current price is roughly 50% below its all-time high set in October, and more than 40 weeks into the bear market.

Four long-term indicators are converging in a way that has historically marked the later stages of a bear market rather than the early ones.

The lower boundary of Bitcoin's power law model is near $53,000, a pricing model with roughly 96% accuracy throughout the asset's history.

Bitcoin has been essentially flat against the Nasdaq for nine years, despite carrying significantly more volatility and risk over that period.