Bear Breather? Bitcoin Looks Oversold After 50% Price Drop Since June

“We essentially went from $5,000 dollars to $13,500 in 3 months and now, like the swing of a pendulum, the market wants to know where the bottom is again. In my opinion, we are in the early stages of a bull market, you’ll see that the bottom this time around is much higher than $5,000. We will find higher lows all the way back to all-time highs,” McDonaugh said.