There are no short of Bitcoin price predictions with as high as $250,000, however, before Bitcoin hit another all-time high, it is to crash to the bottom which is expected in somewhere around quarter first of this year.
Back in January 2019, popular crypto trader, Murad Mahmudov took to Twitter to share with the community some insights into the Bitcoin Bottom. He said,
“If the above dynamics are correct and history does indeed rhyme – which is a big if — We can expect a 1700-2200 bottom in the Spring (most likely April).”
Well, now another crypto Analyst that goes with Financial Survivalism has made a bet with Murad as he says Bitcoin price is going to tank even lower before it could go $10k.
However, he is sure of the next bull run as he stated, “Bitcoin will create a new all-time high before 2023.” He further shares, “Can’t both be wrong in regards to the bet. If this level holds then we will hit $10,200 before $1,165.”
Bitcoin Cycles Elongating
Just recently, we reported the analysis done by the crypto trader, Willy Woo where he talks about Bitcoin bottom at below $2k mark, “This is NVT Caps on the price domain. Targeting low $2k mark and dropping.” As for the new peak, he stated, $90k as a minimum number but again he said, it’s “very experimental.”
David Puell further elaborated on Willy Woo’s recently-introduced Bitcoin Valuations live chart. Delta Capitalization, the new view of BTC long-term valuation, Puell says is a hybrid of sorts, being half fundamental and half technical. The delta cap “provides an excellent framework for catching global bottoms — or at the very least bottoms near the floor of the bear cycle.”
Though he does cautions that the lack of enough bottom samples for certainty, if this pattern continues, the good news is, “people will have lots of time to buy up.” However, the bad news according to Puell is that “This bear-to-sideways market may last for an unprecedented while, going as far as projecting a post-accumulation breakout as late as Q2, 2020,” and long-term investors need to stay prepared for this delay.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.