New Theory On Bitcoin (BTC) Bulls Arises – A Surge To Previous Highs Is In The Cards

As we keep repeating, the crypto space has been filled with various theories and predictions this year and fortunately, most of them have been bullish.

This offered investors hope and the overall sentiment in the market became positive.

New Bitcoin bulls theory pops up

There’s a new BTC-related theory in the community which has been making waves. An assumption on how BTC will be making its way back to the previous highs has already become viral.

This prediction has been posted by a crypto trader who goes by the name B. Biddles.

This interesting theory makes use of a popular stock indicator that’s called a bump-and-run reversal (BARR), which highlights an accumulation phase followed by a bump to the downside and then a surge toward previous highs, according to The Daily Hodl.

An analysis of the theory from CCN, the BARR points to a potential Bitcoin breakout to $6,800.

Bear market theories

There are other theories in the market as well which are not that optimistic. For instance, Murad Mahmodov from Adaptive Capital predicted that the bear market is not over yet.

But more crypto experts and analysts from the crypto space have already explained that we’re out of the crypto winter and Bitcoin has already hit a bottom. Tron’s Justin Sun also said this a couple of months ago.

But, on Trading View, Mahmudov talked about an incoming BTC rally to about $5,700, where BTC traded for months in mid-2018. The man believes that BTC could then crash to $4,800.

Mahmudov became really popular in the crypto community for his “ultimate Bitcoin argument” on Anthony Pompliano’s Off the Chain podcast.

Also, back in January, the man has predicted that BTC may not have found its bottom yet and could still fall to $1,700.

Let’s hope that he’s not right and BTC has already hit a bottom, and we’ve waved goodbye to the crypto winter for good.

You May Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *