Bitcoin is down almost 20% from the highs, but this is probably the bottom...
If you are new to bitcoin you are probably cursing under your breath quite a bit the last few days when checking in on the price.
I don't blame you, it caught me off guard as well.
However, history shows that this trend is probably bottoming right now, and will go on to make new highs very shortly.
Specifically, bitcoin tends to bottom at or near the last Friday of every month.
Check this out:
If that chart doesn't give you some comfort, I don't know what will!
Why this continues to play out like this probably has something to do with monthly options expiration.
Currently there is more than $6 billion worth of bitcoin options set to expire tomorrow, which is the largest expiration ever.
I suspect we will see the above trend play out yet again, with bitcoin bottoming most likely today or sometime with a few days of today.
April is going to be a lot more fun than the last couple weeks have been...
Stay informed my friends.