The crypto trader who accurately predicted Bitcoin’s low point during the 2018 bear market believes that BTC will record new all-time highs this year despite its price decline over the past two months.
Pseudonymous crypto analyst Smart Contracter tells his 203,400 Twitter followers that he thinks Bitcoin will print a new 52-week low in the coming weeks before rallying above $100,000 by the end of the month. year.
“In December, this message was mostly ironic, but it was still in the back of my head. Now, that seems more within the realm of the possible. The fact is that there is a very wide range in which BTC can still go down and remain macro bullish for a long enough period. TO SURVIVE.”
Looking at Smart Contracter’s chart, it looks like the crypto strategist sees Bitcoin following the market structure of the Dow Jones Industrial Average (DJIA) between 1998 and 2012. During this period, the DJIA traded in a wide range before bursting and triggering a parabolic. ascent.
Although the crypto strategist is long-term bullish on BTC, he sees Bitcoin plunges below $30,000 before building bullish momentum.
“Okay good, for the lulz. I’m calling a bottom at exactly $25,800 with $1,000 wiggle room on either side.
Back in 2018, Smart Contractor nailed down BTC’s lowest months before the flagship crypto asset broke below crucial support at $6,000.
“I’m calling a bottom at exactly $3,200 with $200 wiggle room on either side.”
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Featured Image: Shutterstock/SimpleB/Andy Chipus