Eric Crown Predicts End of Bitcoin Bear Market and $100,000 Year-End Outlook

Bitcoin has formed a significant bottom around $60,000 in July, signaling the end of the bear market, according to analysis. In an interview on September 2, Eric Crown stated, "I believe the bottom has already been reached," suggesting that Bitcoin has a high likelihood of forming a price higher than its current level in the long term. He highlighted key signals, including the weekly RSI dropping below 30, MVRV falling below 1, and the Puell Multiple dropping below 0.5 at the July low. Additionally, he explained that the exchange trading volume falling below 5% also indicates proximity to the market bottom. He noted that after Bitcoin dropped over 50% from its previous high, the average return one year later exceeded 116%, and nearly reached 337% two years later. In September, Bitcoin could rise to $83,222, potentially surpassing the May peak of $82,800. A bullish close in September would increase the likelihood of a strong October, with an expected average return of about 28% in the fourth quarter.

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