A conservative crypto analyst believes that Bitcoin (BTC) could pull off a big move next year.
Altcoin analyst Pseudonymous Sherpa tells his 187,900 Twitter followers that Bitcoin is rocking the 2019 bear market when the crypto king rose from $3,000 to $14,000 in a few months.
Looking at Altcoin Sherpa’s charts, the analyst seems to be predicting that Bitcoin could climb to around $38,000, suggesting an almost 130% upside for the major cryptocurrency from the base the market.
Although the analyst predicts that BTC may have a bull run next year, he says that BTC may still see another episode of capitulation before it starts to take off. To know:
- Many big environments are different now compared to 2019
-We haven’t seen that final capacity yet (i.e. $6,000 -> $3,000 in 2018). If we see this, it is likely to happen
-If we see a strong rally, this is very unlikely to be sustainable.
Meanwhile, fellow crypto strategist Capo predicts that Bitcoin and the rest of the crypto market will be at a lower price.
This process is still running. The show points to a full release event. The bad news should be close. BTC $12,000
- ETH $600-$650
- Altcoins 50-70% can crash (shitcoins even more)
- Stay safe, things could be worse.
- At the time of writing, Bitcoin is changing hands for $16,713, a low on the day.