Bitcoin, the digital currency that once set off a huge wave in the financial market, has been controversial in recent years. Investors are sometimes bearish and sometimes bullish, and the market fluctuations are overwhelming. So, has Bitcoin hit the bottom or is it about to take off? Let's unveil the latest market veil and analyze the current situation and future trends of Bitcoin in depth.

 Historical Review of Bitcoin

The birth of Bitcoin can be traced back to 2008. The concept proposed by Satoshi Nakamoto aims to establish a decentralized digital currency system. Since its inception, Bitcoin has experienced a bumpy road, from a few dollars a coin to the peak of $20,000 in the past, and then to today's market volatility. It is undeniable that Bitcoin, as a representative of cryptocurrency, has set off a revolution in the financial field.

 Current Bitcoin Market Situation

Recently, the price of Bitcoin has been fluctuating. Affected by multiple factors such as the global macroeconomic situation, policy influences, and market sentiment fluctuations, the price of Bitcoin has risen and fallen, and the market instability has increased significantly. Investors' confidence in Bitcoin has also been shaken, and market sentiment has fluctuated rapidly.

 Bitcoin's Future Outlook

Although the Bitcoin market is currently volatile, experts generally believe that Bitcoin still has great growth potential in the long run. With the continuous development and application of blockchain technology, Bitcoin, as its representative digital currency, is expected to become a more stable investment target in the future. Investors may need to remain rational in market fluctuations and seize investment opportunities.

 Bitcoin's Risks and Opportunities

When discussing the future of Bitcoin, we have to mention its inherent risks and opportunities. Bitcoin's price fluctuates greatly, and market risks cannot be ignored; but at the same time, Bitcoin's decentralization and security also bring huge opportunities for its future development. Investors should be cautious when choosing to invest in Bitcoin and grasp the balance between risks and opportunities.

 Bitcoin's Social Impact

In addition to being an investment asset, Bitcoin also has a profound impact on various fields of society. In the financial field, Bitcoin's decentralized characteristics are changing the way the traditional financial system operates; in the field of science and technology, the application of blockchain technology is also expanding. The emergence of Bitcoin is not only a digital currency, but also a revolutionary technological innovation.

 Conclusion

Bitcoin, as a digital asset that has attracted much attention in today's financial market, its future trend has attracted much attention. Investors need to look at market fluctuations rationally and grasp risks and opportunities in order to go further on the road of Bitcoin investment. Whether Bitcoin is hitting the bottom or about to take off, it has profoundly changed our understanding of finance and technology and has become an indispensable part of today's social development. Let us wait and see and witness the future development of Bitcoin.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Bitcoin has been a hot topic in mainstream media since last year. Despite regulatory pressure and the coronavirus pandemic, it has become one of the best performing assets of the decade, so it's no surprise that Bitcoin's plunge from its November 2021 highs has left investors scrambling. The fourth major cycle of the Bitcoin market, each of which is caused by different factors, and the analysis of Bitcoin hash rate, volume profile visible range, and macroeconomic factors gives us a glimpse of what to watch out for when Bitcoin hits the bottom. Many investors want to know whether Bitcoin has bottomed out now? Let the following coin circle editor introduce the latest situation of Bitcoin to you.

 Has Bitcoin bottomed out?

Bitcoin has not yet fully bottomed out At this stage, Bitcoin is currently trading at around $23,000. Now, most of the previous bear market cycles have fallen below the actual price. However, the time below the above price ranges from 7 days to 301 days.

According to a recent report by Glassnode, if the flash event in March 2020 is not included, the average time spent below the above level is 197 days. Until the beginning of this week, Bitcoin was only 35 days below the actual price, which suggests that it is preparing to bottom, but has not yet fully bottomed.

In addition, Bitcoin's MVRV ratio is currently around 0.953. Typically, values below 1 resonate with late-stage bear markets and are often associated with bottom formation and accumulation. However, according to Glassnode, the current bearish divergence is not as deep as average, which suggests that further downside and/or consolidation time is needed to establish a bottom.

 Bitcoin Latest Introduction

Bitcoin may not see an immediate downtrend in the short term. As net exchange flows remain negative, the asset is expected to continue to rise in the next few days until testing around $26,000. After reaching the same level, a breakdown can be expected, as the above-mentioned level behaved like a hard resistance level in June.

Therefore, if rejected, in the first case, Bitcoin will be ready to fall to $17,600 to collect liquidity. Therefore, depending on the established directional bias, it can start an uptrend after bottoming or continue to fall to another potential bottom around $11.5-12,000.

Therefore, even though Bitcoin seems to be about to end its ongoing downturn, it may still take some time to achieve this. There is a good chance that BTC will bottom out at any of the above levels before a bull market accumulates and a concrete change in trend takes shape.

"Against the backdrop of extremely challenging macroeconomic and geopolitical turmoil, HODLers with strong convictions are reaching a peak of investor saturation, and a real bottom formation may be becoming very plausible."

The above content is the answer to the question of whether Bitcoin has bottomed out by the editor of the currency circle, as well as an introduction to the latest situation of Bitcoin. At the macro level, the Fed's interest rate hikes remain the main driving force of global financial markets, so the situation in the crypto market is no exception. BTC bottomed out at $17,500 in June after a 45% increase as investors expected interest rate cuts amid rising inflation. However, Bitcoin was hit hard by the Fed's interest rate hikes. If we take into account the Fed's commitment to reduce inflation from the current 8.5% to 2%, further interest rate hikes are expected. High-risk assets, including BTC, will be under pressure for quite some time.