BTC.top founder predicts Bitcoin will bottom at $42K-$44K in Q4

Jiang Zhuoer, founder of the Chinese Bitcoin mining pool BTC.top, predicted that the current BTC bear market will bottom out in the fourth quarter of this year in the $42,000 to $44,000 range. He noted that MicroStrategy's (Nasdaq: MSTR) modified net asset value ratio (mNAV) has fallen to 0.72, approaching the 0.7 level seen at the bear market low in May 2022. Considering this and other recent factors, Jiang believes the mNAV has entered its bottoming zone for this cycle. According to Jiang, the mNAV is a leading indicator that typically precedes BTC price bottoms by about six months. Applying a four-year cycle and volatility reduction model, he suggested that BTC is highly likely to hit its low in the low $40,000s between October and December. He added that his current short-term strategy involves maintaining spot sells and short positions, with plans to switch to spot buys and long positions after the expected bottom is reached.