According to a report published by analysts at crypto exchange Coinbase, Bitcoin bottomed at the end of 2022 in the region of $16,000.
According to the exchange's experts, the main factor indicating the price of the coin has bottomed out is the increase in the number of unprofitable addresses on the network. At the end of December, these exceeded 50%.
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Recall that Bitcoin is currently hovering around $16,000-17,000.
It is worth noting that a similar situation was observed back in January 2015 and 2018. Coinbase does not exclude that the price of the crypto will fall over the next few weeks, but believes it is unlikely that Bitcoin is threatened with a reversal below $16,000.
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At this stage, traders are not looking to increase capital investments in BTC, as according to Bitinfocharts data, a weakening of its activity is taking place.