Jiang Zhuoer, one of the best-known bitcoins in China miners and founder of the LeBit mining pool, predicted that the current bear market will bottom out in the fourth quarter between $42,000 and $44,000.
The forecast, made in Chinese on
Jiang analyzed Strategy’s market net asset value (mNAV), the ratio of the company’s stock price to the per-share value of the bitcoin it holds, which fell to 0.72. A number greater than 1 means that investors value the company at a premium to its Bitcoin stack; below 1 means they rate it less.
By Jiang’s figure, the market’s pricing strategy is about 28% lower than the bitcoin it owns, a sign of deep pessimism about the trade.
BTC exchange rates and high exchange rates
【重要长期预测贴】MSTR mNAV is 0.72%, 1%, 3%,
（mNAV=股价/每股含BTC价值比值，代表美股资金对MSTR
接近上一轮牛市2022 in 5% of 11% in 0.7% in 2%
根据最近STRC大幅脱锚等市场情绪事件，… pic.twitter.com/o9fqE9U80z– 江卓尔_莱比特矿池 (@Jiangzhuoer2) June 24, 2026
This reading is close to the low of 0.7 reached by the strategy on May 11, 2022, during the last bullish to bearish turn, he said, leading him to believe mNAV is near its bottom for this cycle.
