BTC Top Founder Sees Potential Bottom at $44,016 by End of October

Bitcoin's recent upward momentum has sparked new predictions from Jiang Zhuoer, founder of the China-based mining pool BTC.top. According to Zhuoer, based on Bitcoin's historical four-year cycle, the current correction has not yet reached the level of previous bear markets in terms of duration or depth.

Jiang points out that the previous three major bear markets followed a similar pattern in terms of both duration and price decline. In contrast, this year's downturn has not yet reached that range. Zhuoer suggests that the current downward trend may continue.

Based on past cycles, Jiang notes that the maximum declines were 86.9%, 84.1%, and 77.6%. He predicts a more limited but still sharp pullback of 65.1% for the current cycle. If this scenario materializes, Bitcoin's price could fall to $44,016.

Zhuoer believes that the potential bottom could be seen by the end of October. However, it is essential to note that this prediction is not investment advice.