Following the latest market drop, there are all kinds of optimistic predicitons about the price of Bitcoin, but the latest one surpasses them all. Check out the latest reports below.
New optimistic Bitcoin prediction is out
A really popular crypto strategist and trader is predicting a big Bitcoin (BTC) rally that he believes will surpass expectations.
Analyst Justin Bennett recently said that Bitcoin has likely printed a temporary bottom after managing to reclaim a key support level.
“There’s a good chance crypto has reached a local bottom if BTC can reclaim $28,800 today. Like the sell-off, the relief rally will likely run beyond most expectations.”
At the time of writing, Bitcoin is changing hands for $30,250 and the king coin is trading in the green, just like all the important digital assets out there.
The crypto analyst is also keeping a close watch on the USDT dominance chart (USDT.D) – this is an index that tracks the valuation of stablecoin Tether (USDT) relative to the market cap of all crypto assets.
Bennett says that USDT.D is poised for a deep correction as it trades within a trend exhaustion pattern.
“USDT.D with a massive broadening ascending wedge (exhaustion pattern). This breaking lower is the relief rally for crypto as it moves inversely to Bitcoin. The objective is 20% lower, which roughly translates to 20% higher for BTC from current levels.”
Bitcoin bottom new prediciton has been released
The crypto analyst who called the May 2021 Bitcoin collapse and the double top pattern at $69,000 says that the bottom is nearly in for BTC.
The pseudonymous analyst known as Dave the Wave has recently explained that he foresees Bitcoin trading near the 48-month moving average, a spot where BTC historically tends to carve a bottom.
“Arguably, another month in it [on the basis of this metric]… which is what you’d expect if price is to re-test the lows over the course of this month.”
