As the price of Bitcoin (BTC) is attempting to establish support at $37,000 on Tuesday, the recent $30,000 lows may have been the bottom, suggests one derivatives market indicator that has a history of accurately predicting BTC/USD cyclical lows following its bear cycles.
The last time it predicted a bottom was on Nov. 1, following which the cost to purchase one Bitcoin surged from $13,771 to as high as $64,899 on Coinbase.