Summary of This Round of Downtrend Views: Bitcoin Final Bottom Forecast as Low as $75,000

November 21st. After Bitcoin experienced its first drop below $90,000 in nearly 7 months, it has continued to decline for several days without showing any signs of recovery. When will the downtrend cease, and at what price range will the ultimate bottom be reached? BlockBeats has compiled the following key analysis points before and after this round of decline: Placeholder VC partner Chris Burniske stated that the characteristics of a market top have emerged. He intends to re-enter Bitcoin when it reaches $75,000 or lower. The market has been enduring the impact of the sharp drop on October 11th, making it difficult to quickly generate sustained buying pressure. The monthly charts of BTC and ETH show some signs of cracking but are still within the "top range." Meanwhile, the decline in MicroStrategy (MSTR) stock price and the frequent warning signals in the gold and credit markets indicate that a broader asset adjustment is imminent. BitMEX co-founder Arthur Hayes said that Bitcoin may first dip to $80,000 to $85,000 before rising to $200,000 to $250,000 by the end of the year. In his latest blog post, he stated, "Bitcoin dropped from $125,000 to around $90,000, while the S&P 500 and Nasdaq 100 indexes are still hovering at historic highs. This leads me to believe that a credit event may be brewing. If a more widespread risk market collapse occurs and the Fed and the Treasury Department accelerate money printing, Bitcoin could surge to $200,000 to $250,000 by the end of the year." Chinese crypto analyst Banmuxia stated that Bitcoin may first fall to $94,500 before entering a complex ranging market, with the ultimate bottom around $84,000. "This is likely to be a complex sideways adjustment. Currently, it may experience a slight decline to around $94,500, and then it is likely to enter an exceptionally complex ranging market. There may even be a rebound reaching above $116,000, and then it will slowly drop to the $84,000 and below 6-8% range." Tom Lee, Chairman of Bitmine, the first Ethereum hodling institution, mentioned that it will take 6 to 8 weeks to repair the impact on the market caused by liquidity gaps among market makers, and this may ease after Thanksgiving (November 27th). The pain is short-term and will not change ETH's supercycle (that is, Wall Street building its ecosystem on the blockchain). Yi Lihua, Founder of Liquid Capital (formerly LD Capital), said, "We believe the current position is the best spot for spot bottom fishing, and we are optimistic about the subsequent market. When others are panicking, be greedy. In the world of cryptocurrency, one day is like ten years in the mortal realm. In fact, from the peak to now, it has only been a little over a month. However, when the bad news is exhausted, buying is a better choice than selling." Bloomberg Businessweek's Person of the Year, two-time China's Most Influential Economist Hong Hao, expressed in a post on Xiaohongshu that Bitcoin has dropped to $92,000 and may only find meaningful support after falling to the $70,000 range. Trader Eugene Ng Ah Sio recently stated that he has started to take a bullish view and has added to his ETH and SOL long positions. "Increased my long positions in ETH and SOL. The oscillators have clearly returned to the oversold zone, and I believe it is time to start adding back risk exposure to this market."