The following is an extract from a recent issue of Bitcoin Magazine Pro, the premium markets newsletter published by Bitcoin Magazine.
With a drop to $18,000 looming and bitcoin at risk of new year-to-date lows.
It's worth looking at a couple critical bottom price levels to see where the price ends up.
First, consider bitcoin's constant volume range profile from the cycle's bottom in December 2018.
We're currently at a 72.23% loss from an all-time high closing price of $67,589.
If the maximum cycle decline is less than the prior two cycles - let's say about 80% - then we're looking at a price of roughly $13,500.