After Bitcoin and the other crypto-market crashed in March within a few days to more than 50% to $ 3.700, were only a few analysts of a rapid recovery. Prominent analysts saw BTC at $ 1,000, and stated that the macro-structure of the market of constant growth is as good as gone.
However, at least a bullish voice was found, hours after Bitcoins Crash to $ 3,700 a comprehensive Twitter Thread published. The Analyst explained why the low point is now reached.
Together with the statement, that Bitcoin had during this surrender bottomed out, wrote the Analyst at the time that he was expecting as a potential scenario, a “V-shaped reversal”. Accordingly, BTC would reach until the beginning of may is $ 10,000.
Like last week we have seen: this is Exactly how it happened.
Now, the same crypto-Analyst remains despite the recent sharp decline of 15% bullish.
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Top Analyst remains bullish on Bitcoin
In a multi-part Thread by Monday morning, the crypto-Analyst claimed that he was, despite the recent crash of Bitcoin continues to be bullish.
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His optimism under the walls, he refers to five market trends that have taken place:
Bitcoins recent decline was a “great shakeout”, which was mostly absorbed by the buyers that took BTC to $8.700.BTC has tested and held key moving averages, such as the sliding 50-weekends-average and the 200 day moving average again.Bitcoin price action is “well within the wave 3”, a comment in terms of its prospects for the Elliot wave.A “Running-Flat”Bullish pattern could develop.The decline has made it possible for BTC, of a historically important trend line to bounce off.
He added that with the Chance of increased media coverage of crypto (and thus in the public consciousness), and FOMO of holders of listed Fiat or Stablecoins “$14,000 to $15,000 are possible,” and in a “little mania” aired June rally.
Beware of bitcoin volatility
While the prospects of the Traders are from the medium-term view is very optimistic, he warns against bitcoin volatility:
“(Expect) in may, a high level of volatility in both directions”
On this point he is not a closer, but during and around the times of the previous half-coats around lost to the crypto market in the short term, a strong volatility.
Below you see a chart to bitcoin’s price development, during and after the halving in 2016. As seen below, is recovered in the crypto-Asset, up to the halving, it was sold out two weeks before the halving to 15 %, flattened out, and then crashed four weeks later, within three days to 30%.
Although there is no guarantee that the same scenario occurs again, the probability is very great that after the halving both a “FOMO”-event as well as a Sell-off.
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