Bitcoin Recovery Date Surfaces – The Next Bull Run
The crypto market is looking better today, with most coin trading in the green.
Despite the high market volatility, there have been some pretty optimistic crypto0related predictions popping up, and below, you’ll see another one.
BTC’s price will rebound soon
An analyst at the crypto hedge fund Adaptive Capital is saying that a reversal is in sight, and he just revealed a timeline of the potential BTC bull run that everyone’s expecting.
Willy Woo told his 117,000 followers on Twitter that despite the chaotic state of the crypto market, his analysis is suggesting that BTC’s price will begin to rebound in about a month.
Back on December 7th, he released a chart that seems to track miner activity.
He also said that there’s a momentum that is turning bullish, and the bottom is already in.
Woo also responded to a critique from Alex Kruger and said that he expects BTC to recover in about a month.
Going from bearish $BTC based on a larger time frame miner capitulation analysis, to bullish based on some undisclosed onchain moving averages, in just a few weeks … while hash rate has been relatively flat (miners didn't capitulate) doesn't make much sense.
— Alex Krüger (@krugermacro) December 15, 2019
There are also a lot of predictions that claim BTC could fall below $4,000 but Woo is more optimistic.
“I only tweet when I’m at high confidence, else it erodes my rep.”
At the moment of writing this article, BTC is trading in the green and the most important coin in the crypto market is priced at $7,192.97.
BTC to hit $350 soon?
Just the other day, we reported that the CEO of Pantera Capital revealed that he remains bullish on the leading cryptocurrency.
Dan Morehead also offered his views on the long term.
He also said that he believes investors should only allocate an extremely small portion of their portfolio to BTC. He said that Bitcoin’s history also shows that ignoring it is not a rational thing to do.
In the long run, he said that BTC could surge to $350k.
Another popular BTC prediction is that in 2020 the coin will hit $100k.
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.