A crypto trader who goes by the name of “Galaxy” told his 48,000 followers on Twitter that he believes Bitcoin will never dip to $3,000 again.
Galaxy’s logic is centered on Bitcoin’s 10-year history of hitting an all-time high, dropping 85% and then consolidating before reaching new highs. According to Galaxy, Bitcoin’s real recovery should start after April.
Although prices may appear to be random (to some), they actually create repeating patterns and trends.
Observing this pattern makes April the last month of cheap $BTC.
— Galaxy (@galaxyBTC) March 13, 2019
Not all traders are on board with the analysis.
Fellow space-themed analyst Moon Overlord told his Twitter crew of 43,000 that we’ll soon find out if Bitcoin will mirror its pattern from last November, when the price of BTC was relatively stable for a couple of months before plunging from above $6K to below $4K.
— moon (@MoonOverlord) March 14, 2019
Right now the crypto market is mixed, with Bitcoin up 0.05% at $3,880. Ethereum is up 1.18% at $133, and XRP is down 0.67% at $0.3110.
Technical analysts at large are noting some signs of a potential Bitcoin breakout, Ethereum’s support at $130, and XRP’s push to pass $0.3300.
NewsBTC – Important reversal signs emerge
Coinnounce – Support around $130 still proving strong for ETH
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ETHNews – Ether presents last chance to buyers