LD Capital founder Jack Yi predicted Bitcoin could reach a bear market bottom between $43,000 and $51,000 during July and August, marking what he described as the final downturn phase since October of last year. Yi, who admitted losing hope in Ethereum after being overly optimistic until early February, stated Bitcoin is experiencing its third decline wave and suggested this could be the last major drop according to Elliott Wave and cycle theories. The Chinese crypto founder identified US stock market performance and Strategy (MSTR) price movements as key variables determining the bottom, with a sustained stock decline potentially dragging Bitcoin lower while an MSTR rebound could signal a broader market recovery.
Jack Yi Admits Ethereum Optimism Was Mistake After Early February Pressure
Jack Yi stated he was among those who felt the most pressure during the decline in early February and admitted his overly optimistic stance on Ethereum was a mistake. Yi, who had consistently expressed optimism about Ethereum until the beginning of February, shared his new analysis from his X account with a more cautious approach to both Ethereum and the broader market.
Bitcoin Enters Third Decline Wave Since October With Elliott Wave Theory Application
According to Yi's analysis, Bitcoin is currently experiencing its third downturn since October of last year. The LD Capital founder applied Elliott Wave and cycle theories to suggest this decline could be the last major drop of the bear market, noting that the third wave is usually the strongest and longest-lasting according to Elliott Wave theory. Yi wrote: "We are currently experiencing the third wave of decline since 11:10, and according to ripple theory and cycle rules, this is the last major downward wave for Bitcoin. Furthermore, black swan events or sudden spikes often occur at the end of past bear markets, but this one hasn't happened yet, so we need to watch it closely."
LD Capital Founder Sets $43,000-$51,000 Price Targets Based on 60-66% Drop Calculations
Yi calculated Bitcoin's potential price targets using its October all-time high of $126,000 as the reference point. According to his analysis, a 60% drop from BTC's recent ATH of $126,000 would bring the price to $51,000, while a 66% drop would result in $43,000. Yi presented these calculations as representing significant declines from current prices and signaling a deep bear market bottom.
July-August Predicted as Final Downturn Period and Three-Year Buying Opportunity
Jack Yi predicted July and August would constitute the final downturn of this cycle. He stated: "Finally, if we calculate based on BTC's highest point of $126,000, a 60% drop would be $51,000, and a 66% drop would be $43,000. In any case, July-August should be the final period, the best time for a dip, and even the most valuable trading opportunity for the next three years."
FAQ
What price targets did Jack Yi set for Bitcoin's bear market bottom?
Jack Yi calculated two potential Bitcoin bottom targets based on a $126,000 all-time high: $51,000 representing a 60% decline, and $43,000 representing a 66% decline from the recent peak.
Why does Jack Yi believe Bitcoin is in its final downturn phase?
Yi stated Bitcoin is experiencing its third decline wave since October of last year and applied Elliott Wave and cycle theories to suggest this could be the last major drop, as the third wave is typically the strongest and longest-lasting according to Elliott Wave theory.
