{"id":418735,"date":"2020-03-20T22:30:23","date_gmt":"2020-03-20T22:30:23","guid":{"rendered":"https:\/\/uniquehot.com\/?p=418735"},"modified":"2024-06-11T13:46:37","modified_gmt":"2024-06-11T13:46:37","slug":"analyst-who-predicted-bitcoin-crash-3000-says-this-comes-next","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/analyst-who-predicted-bitcoin-crash-3000-says-this-comes-next\/","title":{"rendered":"Analyst Who Predicted Bitcoin’s Crash to $3,000 Says This Comes Next"},"content":{"rendered":"

Over the past few days, Bitcoin saw some bullish price action for the first time in weeks. This rally<\/a> took the asset as high as $6,900, up 80% from the $3,800 bottom seen last week and up 28% from the $5,400 baseline.\u00a0 Unfortunately, it ended abruptly just hours ago, with the cryptocurrency seeing a strong rejection at $6,900 to fall as low as $5,700.<\/p>\n

According to a prominent analyst, this rejection is a likely precursor to further pain for this market in the coming week.<\/p>\n

Related Reading: Scarily Accurate Fractal: Bitcoin Will Trade at $20,000 By Q1 2021<\/a><\/h6>\n

Bitcoin Could Revisit $3,000s, Warns Top Analyst<\/strong><\/h2>\n

Smart Contracter, a prominent cryptocurrency trader, recently remarked that the recent rally looks “corrective,” suggesting that a reversion to a bear trend is likely:<\/p>\n

“Haven’t done a BTC update in a while, but structurally this rise looks corrective, I think this was an ABC and we continue lower here.”<\/p><\/blockquote>\n

His chart<\/a>, based on Elliot Wave analysis, suggests that BTC will fall as low as $3,200, the 2018 bear market low, by the end of the month. Should this take place, that means Bitcoin will fall 45% from the current price of $5,800.<\/p>\n

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havent done a $btc<\/a> update in a while but structurally this rise looks corrective, i think this was an abc and we continue lower here pic.twitter.com\/kzibbSFryh<\/a><\/p>\n

— Bluntz (@Bluntz_Capital) March 20, 2020<\/a><\/p><\/blockquote>\n