A popular crypto trader, who accurately predicted the lowest point reached by Bitcoin during the 2018 bear market, believes that BTC will record all-time highs this year despite the bearish price action it has experienced in the past two months.
The crypto analyst, who goes by the alias Smart Contracter, tells his 203,400 Twitter followers that he believes Bitcoin will hit a 52-week low in the coming weeks before surging above $100,000 by the end of the year.
“In December, this post was mostly half-hearted, but it was still in the back of my mind. Now it seems highly probable. The point is: there is a really wide range ahead of BTC where it can still fall and continue its macro bullish on a long enough timeline.”
According to Smart Contracter’s chart, Bitcoin seems to follow the market structure of the Dow Jones Industrial Average (DJIA) between 1998 and 2012. The DJIA traded a wide range between this timeframe before breaking out and starting a parabolic rally.
While the crypto strategist is bullish on Bitcoin over the long term, he believes Bitcoin will drop below $30,000 before it builds up any bullish momentum.
“Okay, just for fun. [tahmin yapıyorum]. I predict a bottom at exactly $25,800 with a margin of error of $1,000 either way.”
ok fine, for the lulz
Im calling a bottom at exactly 25.8k with a 1k leeway either side.
Will retweet the shit outta this when it happens.
k thx bye 😙😙
$BTC #BEARISH https://t.co/TCD6Y6sq9w— Bluntz (@SmartContracter) January 21, 2022
At Smart Contracter 2018, BTC bottomed out months ago, before the flagship crypto asset fell below the critical support at $6,000.
“I predict a bottom of exactly 3,200 with a margin of error of $200 in either direction.”
Bitcoin, the largest cryptocurrency at the time of writing, is trading at $35,725.
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.