Bitcoin below $8000 and Ethereum below $600, so how much worse can it get?

Bitcoin is under $8000 (at $7963 at time of writing) and Ethereum below $600 (at $588 at time of writing) - the lowest since the Feb 11th dip.

So, what does this mean? 

Well, it means we're waiting to find out the re-entry point of large investors  (aka "whales") - the point where they decide it probably won't go much lower, so it's time to re-buy at low prices.

We've evaluated two data sources - past indicators, and monitoring some private telegram channels for large accredited investors only - where our sources have been combing to look for the discussion of automated buy-orders.

Based on this data we believe the worst case scenario before an upward trend is triggered would be around $6500 for Bitcoin, and $450 for Ethereum.

Of course, relief could still come before then, and a stagnant market will soon be revitalized either way, as a multitude of new index funds prepare to launch bringing in large amounts of institutional investors.

There's light at the end of the tunnel, what's uncertain is how fast we're traveling.

Author: Mark Pippen
London News Desk