Axel Adler Jr: Bitcoin needs to fall to 59000 before it can bottom out

According to Axel Adler Jr, an analyst at CryptoQuant, the adjusted price range model shows that Bitcoin needs to fall to the critical range of $59000 before it can start a medium - to long-term bottom, which is expected to take about 6 months to complete. He pointed out that the core of market stabilization lies in the return of long-term real demand, rather than emotional repair or partial rebound.