BTC Founder Sees Limited Price Drop Ahead for Bitcoin

Jiang Zhuoer, founder of the China-based mining pool BTC.top, has weighed in on the current state of Bitcoin. According to historical four-year cycles, the current correction has not reached the level of previous bear markets in terms of duration or depth. This suggests that a significant price drop may still be ahead for BTC.

Zhuoer notes that past major bear markets followed a similar pattern in both duration and price decline, but this year's downturn has not yet matched those levels. He predicts a more limited pullback of 65.1%, which would see Bitcoin fall to $44,016 by the end of October.

This prediction is based on BTC's historical cycles, with Zhuoer citing declines of 86.9%, 84.1%, and 77.6% in previous bear markets. He emphasizes that this year's decline may continue, potentially reaching its bottom by the end of October.