Bitcoin price is now below 7,400$. We are seeing constant declining of the price since 5th may. Can you guys tell me how low it may go or we can hope that it may rise after this month.
I think that it can probably go as low as $6k again, which was the bottom for two previous dumps (one in early February, and one in March). That level seems to be the level with the most support right now, and I think prices would correct upwards once that zone is hit. But if you want a definite bottom, then I think prices can fall to a minimum of $5k.
I believe though that unless there is something majorly positive about bitcoin in the media that is able to reverse the overall sentiment of the market altogether, prices probably aren't going to be recovering in this quarter.
Late Q4 and next year are going to be the main bullish points to look at, not right now.