Happened in May 2021 bitcoin The analyst who predicted its collapse, a rally prediction in the new post shared. Here are the details.
The analyst, known by the pseudonym Dave the Wave, predicted that Bitcoin would take off from next month. According to the analyst, as a result of this move, the price will rise. As a result, Bitcoin has a chance to rise to the $25,000 price range towards the end of the year.
Despite the analyst’s expectation of a rally, the $19,000 level is likely to be retested after the rally. With the end of the pullback, it is possible for Bitcoin to end its six-month low and rise above $30,000.
Koinfinans.com As we reported, Bitcoin is currently trading at $ 19,300. The price is down 0.6% in the last 24 hours.
“It feels like endless, but based on the ‘logarithmic growth curve’ this bottom is pretty much proportional to the previous ones. Macro lows and highs are less obvious. As a result, the longer-term momentum seems to be on the upside.”
Bitcoin Traders Should Beware
The analyst also Bitcoin dominanceHe shared a chart showing that coin (BTC.D) could recover. As a matter of fact, he warned traders to be careful.
The BTC.D chart shows how much of the entire crypto market value belongs to Bitcoin. A rising Bitcoin dominance chart shows that BTC is outperforming other crypto assets.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.