Will Bitcoin Crash to $15,000? Where is the Bottom?

The bitcoin (BTC) price fell again this morning considerably through the hooves. The price point of $20,000, which many believed would be the bottom, was lost and for a short time, bitcoin even traded for less than $19,000. It is completely realistic that bitcoin will fall further, but where is the bottom finally?

Bitcoin to $15,000?

Sentiment in the market right now, unsurprisingly, is extremely bad. The panic is back. The prospect is therefore not necessarily something to write home about.

According to crypto analyst Rack Capital it could even be that bitcoin could drop another 50% from this point. All the way to $15,000. According to him, this is plausible because the price of bitcoin historically short, but powerful about 15% to 30% under 200 days moving average crashes. We are not here at the moment.

What does the Crypto-Insiders community think?

We also recently asked the Crypto-Insiders community what they expect the bottom to be. The results of this poll do not lie and are a nice representation of the current sentiment in the market. A vast majority expects the bottom to be much lower than the price at which bitcoin is currently traded.

8.7% said they expect bitcoin to bottom out around $20,000 already. We now know that this scenario no longer holds true. Bitcoin has already fallen well below $20,000.

13% of the Crypto-Insiders community expects the bottom between $17,000 and $20,000. At the time of writing, that’s the zone we’re in.

A majority, however, is even more pessimistic. 41.3% say they believe the bottom will form between $14,000 and $17,000. This is the largest group.

28% expect a bottom between $10,000 and $14,000. 8.7% really don’t feel like it anymore. They expect a bitcoin bottom below $10,000. Of course, all these scenarios are still possible. No one has a crystal ball, so we’ll have to wait until time will tell.