Analyst: Bitcoin is expected to have a long-term strong rebound after falling to $6,000

According to U.Today, cryptocurrency analyst Galaxy said that as bitcoin prices are difficult to maintain above $8,000, prices are expected to fall further to the $6,000 region. However, according to historical data, bitcoin prices usually rise by more than 100% after a sharp correction of 40% to 50%. At the beginning of 2016 and throughout 2017, Bitcoin has more than doubled its value after undergoing relatively large adjustments. Since the annual high of $13,920 in July this year, Bitcoin has fallen by 43%. If Bitcoin is in a bull market, there may be a strong rebound in the coming months.