Bitcoin Confirms Technical Bottom, Possibility of Mild Bull Market

Jeff Ross, CEO of Valour Capital, suggested that a technical bottom for Bitcoin may have already formed. He forecasted that a mild upward trend with reduced volatility could continue. In an interview on September 11, CEO Ross stated, "Technically, it seems the bottom has already been reached," adding that this time, most people will be surprised by an upward movement rather than a downward one. He explained that the reason this bear market has only seen a decline of 50-55% from previous highs, unlike past downturns, is that the previous bull market did not end in an overheating phase. He emphasized that although Bitcoin has dropped after reaching around $126,000, it was not a result of excessive leverage accumulation. CEO Ross projected that the total market capitalization of the Bitcoin network is currently about $1.5 trillion and could expand to $5 trillion in the future. He warned that if Bitcoin surges to $1 million by 2028, a significant bear market could follow, with declines potentially exceeding 50% and reaching 60-70%. Additionally, he noted that as volatility decreases and downside risks diminish, it becomes easier to adopt a long-term holding strategy.

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