2 crypto analysts, whose past predictions were released, shared their price predictions for Bitcoin. Analysts’ predictions came after BTC fell from $20,000 today. At the time of writing, the leading cryptocurrency was changing hands at $18,933, down 6.51% in the last 24 hours. Let’s take a look at the latest price expectations of analysts.
“This Bitcoin metric signals bullish”
Nicknamed crypto analyst Dave the Wave spoke to his 126,900 Twitter followers about the price of Bitcoin. The analyst said that the current dominance level indicates that it is due to a price pump. BTC is trading at $19,004 at the time of writing. The top-ranked crypto-asset by market cap has dropped nearly 1% in the past 24 hours. Currently, BTC is down more than 72% from its all-time high of $69,000, which it reached last November.
Dave the Wave also studied the logarithmic growth curve (LGC) model. According to him, the Bitcoin LGC curve is giving an extremely bullish signal. The metric shows that “a nominal reduction in adjustments can be expected.” However, Dave the Wave cites that Bitcoin’s LGC model is in the “buy zone”. Accordingly, the price is spending plenty of time in the region before its rise. According to him, the BTC price may make abundant gains in the near future.
“Wait this date for BTC bull run”
Another crypto analyst, Credible, gives Bitcoin insights to his 338,500 Twitter followers. According to him, BTC is about to complete a major correction period. After that, the leading cryptocurrency looks set to ignite a six-digit parabolic rally. The analyst says that the lower-than-expected $14,000 macro override did not materialize. Therefore, he claims that we are still on the rise for the next wave 5th.
Credible is a popular practitioner of Elliott Wave theory, an advanced technical analysis approach that tries to predict future price movements by following crowd psychology. According to the theory, a major uptrend goes through five distinct waves where the first, third and fifth waves are bullish while the other two are correction periods. Looking at the chart of Credible, the analyst predicts that Bitcoin will start its steep rally next month. According to Credible, Bitcoin will skyrocket to around $150,000 next year.
“Bitcoin will see these levels in the short term”
Credible also says the current sentiment is a reminder of how investors felt during the Covid-19 outbreak. In the short term, the crypto strategist sees Bitcoin rising above $22,000. According to him, the cutback is sweeping lows and liquidity continues to rise. Also, inefficiency is still at the forefront of leading crypto. However, Credible argues that the best bet is still bullish.
Past predictions were out
cryptocoin.com As we reported, Dave the Wave predicted that Bitcoin would drop to $23,000 and Ethereum to $1,600 in 2021. These Bitcoin and ETH price levels that the analyst gave are really out. On the other hand, Credible
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