Dave The Wave, the analyst who correctly predicted the fall of Bitcoin in 2021, is back with another market prediction. The popular crypto trader shared some charts in a twitter thread this Monday. Dave says that judging by previous cycles, the hype in the world’s leading cryptocurrency is about to reverse.
The mysterious crypto analyst took to Twitter to share his prediction with his 100,000 followers. As of 2011 Twitter, Bitcoin has hit the bottom and is ready to start its upward journey again. Dave bases his predictions on the trends of the previous years shown in the chart (2012, 2015 and 2019).
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BTC is about to swing upward movement according to the MACD chart.
MACD is a market movement tracker that shows how two moving averages relate to each other. It works based on trends and allows traders to calculate the points at which market momentum can be reversed.
Based on Dev Waves, Bitcoin’s MACD has swung below the zero line and is oversold in a similar move for 2019. So “there is a good chance we will see the first contract histogram on Bitcoin’s monthly chart.” Judging by previous trends, the king of crypto is about to go on a bull run.
Another crypto analyst disagrees with Dave.
Interestingly, not everyone shares Dev The Wave’s bullishness when it comes to Bitcoin. otherer famous crypto analyst, Bluntz, shared his own chart that describes it as ugly. He confirmed that he is not looking to buy Bitcoin anytime soon unless it falls below $17000.
Bluntz, the smart contractor on Twitter, is an analyst who successfully predicted Bitcoin’s bearish low in 2018. If its chart is anything to go by, BTC still has some more weather ahead before any relief comes. This is in A thread The crypto analyst shared on Twitter in mid-August.
Bitcoin current price movements
As of this writing, Bitcoin is trading below $21,000, down more than 8% in the past 24 hours. Although the BTC price once again lost its gains above $22k, it gained a 10% upward swing from the cryptocurrency’s previous $19,000 position last week. However, these moves are still a 65% gap from Bitcoin’s all-time high of 61,000.
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Dave The Wave believes that now is the time to buy and not sell BTC, but the smart contractor wants to wait. Each has a track record of making accurate predictions about the crypto market. It remains to be seen who is right at this point in their seemingly conflicting predictions.
Featured image from Pixabay and chart from TradingView.com