China-rooted mining pool founder says BTC could hit $44K by late October

BTC could fall to $44,016 by late October, BTC.top founder Jiang Zhuoer, the founder of the China-rooted mining pool, said, arguing that the current downturn based on Bitcoin’s four-year cycle has not yet matched past bear markets in either duration or depth. Jiang said the previous three bear markets all posted similar time frames and drawdowns, while this year has not yet reached that range. Based on past cycles, he said the maximum declines were 86.9%, 84.1% and 77.6%, and projected a 65.1% drop in the current cycle, which would put BTC at $44,016 by late October.