After facing a massive sell-off in June, Bitcoin might have potentially reached a local bottom, according to a new report by analysts from the Bitfinex exchange.

Bitcoin’s 
BTC
tickers down
$57,171
 price plummeted below the 120-day range on July 3, dropping to as low as $53,219 amid the increasing fear, uncertainty and doubt related to the start of Mt. Gox’s creditor repayments and other issues.

Bitfinex analysts suggested on July 8 that Bitcoin might have reached a local bottom based on mark