Bitcoin Rally Of 1,022% Prediction – A Pull Back Comes First, Says Accurate Trader
Despite the massive volatility of the crypto market, the optimistic predictions continue.
These days the crypto market suffered a pretty significant correction, and BTC dropped in price a lot, making a lot of traders freak out.
BTC is reportedly in its early days for a huge bull run
But now, a crypto analyst who called BTC’s 2019 bottom believes that BTC is now in its early days for a huge bull run.
This tech trader is known in the crypto industry as Dave the Wave and you’ve probably heard of him before.
He has updated his long-term chart that accurately identified Bitcoin’s 2019 reversal.
This chart shows that BTC’s recent bullish trend is intact and BTC’s drop below $10k is just a blip on the radar.
Dave believes BTC will skyrocket to the $110,000 range over the next couple of years.
This would mean a growth of 1,022% from the current price of $9,798 at the time of publishing.
“For those getting stuck or confused on the shorter-term call, here’s my view going forward. If you’re a holder/investor, ignore the short term calls and focus on the medium/long term. The main point being, a consolidation to the buy zone would set BTC up nicely for its run,” he said.
The analyst expects a correction in the short-term
In the short term, however, the analyst says it’s possible BTC could continue to correct down to the $8,400 range.
“IF BTC continued to correct, could see 8.4K – 50% retracement along the lines of the previous corrections… though on different scales.”
IF BTC continued to correct, could see 8.4K – 50% retracement along the lines of the previous corrections… though on different scales. pic.twitter.com/GwZ39jviuk
— dave the wave (@davthewave) February 11, 2020
Anyway, the optimistic predictions about the price of BTC continue, despite the market volatility.
Just the other day, we reported that despite the BTC pullback, the $100k prediction is still in the cards, for instance.
Crypto Rand trader and analyst is mentioned by the Daily Hodl and said that he’s feeling really bullish.
He said that BTC’s movement below $20k is a mere sideshow as BTC gears up for a rise to $100k.
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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.