This may be more of sentiment:
Lowest bitcoin price in June: $17,600
Lowest price in July: $18,800
In August as of now: $19,510
Maybe the lowest price in September would be over $20000, I am not thinking that bitcoin price would decrease lesser, but I am thinking that $27000 can be the highest price while over $20,000 to be the lowest price.
If we analyze the monthly ATL of Bitcoin price in the last 3 months, the ATL of next month should be above $20000. But don't forget that Bitcoin price move is surprisingly sometimes, it doesn't always return the same patterns. Moreover, we are heading Q4 of 2022 (
the first year of bearish season), I am sure there is a chance that Bitcoin to drop again below $20,000 before we have a new year. We must realize that whales have a power to manipulate the Bitcoin price to drop again and they can buy more to fill their bags before they close it and wait for the bullrun.
I did not just make this conclusion, but also by comparing 2018 bear market with this time bear market. Bitcoin may never go below $17600 again.
What do you compare between 2018 bear market and 2022 bear market?
I don't get the point about the way you determine BTC won't drop again around $17,600.