Price predictions for Bitcoin have been coming thick and fast recently and some have been more accurate than others. One analyst still predicts a lot more pain for crypto assets and a final capitulation before things start to turn around.
Will History Repeat Itself For Bitcoin
Prominent technical analyst Murad Mahmudov , who has predicted correctly on a number of previous occasions, has taken a look at historical corrections and Bitcoin movements. Theorizing that a repeat of the 2014-2015 bear market could be a sign that Bitcoin trading is based on raw emotion, further losses are predicted.
Looking at the chart, and possible future movements, we could be at the beginning of what Murad describes as a final capitulation. In this rather bleak scenario Bitcoin will dump to a low of $1,800 by mid-Q2 and stay there until around the end of Q3 this year before starting to show signs of recovery.
1/ Let’s go on a little journey. What if the history does indeed rhyme? pic.twitter.com/VDSonz68Gw
— Murad Mahmudov
– – – – –
Thank you for Share!