Bitcoin Prediction Ahead Of The Halving: Strong Uptrend Move Incoming
The Bitcoin halving is just around the corner, and the crypto market is waiting to see some pretty impressive price moves.
At the moment of writing this article, Bitcoin is trading in the green and the most important coin out there is priced at $8,991.67.
Bitcoin is up by more than 130% since the Black Thursday
Bitcoin is up by more than 130% since the March 12 crash. The coin is outperforming traditional assets amidst the coronavirus pandemic.
While BTC is starting to show signs of short-term bullish exhaustion, there’s a crypto trader and Elliott Wave analyst who believes that the coin is preparing for a strong move upwards, according to the latest data coming from the Daily Hodl.
Benjamin Blunts told followers that BTC is poised for a rally to $10,000.
#btc made 5 waves down on the smaller timeframes, abc back up and swiftly rejected the 0.618 almost to the $ and now i think we get one more leg down into low 8ks.
imo this will be a buy the dip opportunity in strong uptrend pic.twitter.com/M0nSv4OwPJ
— 🍄🌲Benjamin Blunts🌲🍄 (@SmartContracter) May 2, 2020
beautiful dump there, saw alotta people fomoing in yesterday.
basically im thinking we sweep the 8400 lows, take out some stops and then bounce for another high. pic.twitter.com/aRliylSf9p
— 🍄🌲Benjamin Blunts🌲🍄 (@SmartContracter) May 4, 2020
In order to make these predictions, Blunt is relying on his expertise in the Elliott Wave to predict the bottom of the bear market back in 2018.
Take a look at the tweet that he posted back then:
I’m calling a bottom at exactly 3.2k with a 200 dollar leeway either side.
Will retweet the shit outta this when it happens.
— 🍄🌲Benjamin Blunts🌲🍄 (@SmartContracter) June 23, 2018
There are various predictions about the price of Bitcoin these days, and most of them are really optimistic. We’re just ahead of the Bitcoin halving.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.