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A crypto trader who calls himself ScienceGuy9489 is back with a series of bullish predictions on the price of the four leading cryptocurrencies by market cap.
The trader’s Bitcoin prediction recently shot to the top of Reddit/Cryptocurrency, comparing Bitcoin’s price during the 2014-to-2015 bear market to the current state of affairs from 2018 to 2019. CoinDesk analyst Omkar Godbole is on the same page, concluding that if past is prologue, a long-term transition to a bull market may be on the horizon.
Says Godbole,
“Bitcoin produced a similar pattern during the previous bear market witnessed in 2014–2015. More importantly, the upside break of that falling channel, confirmed in October 2015, was followed by a two-year bull market.
Therefore, a potential upside break of the latest falling channel could be considered a sign of a long-term bearish-to-bullish trend change.”
But ScienceGuy isn’t settling for just one prediction. The trader has taken things a step further over the last two weeks, outlining four extremely bullish predictions on just how high he believes BTC, ETH, XRP and LTC are set to rise. According to his analysis, the results could bring Bitcoin to $28K, Litecoin to $650, XRP to $4 and ETH to $2,090.
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Not everyone is as bullish as ScienceGuy. After a brief rise above $4,100, Bitcoin bears have regained control. New analysis from FXStreet warns a widening breakout to the downside could bring the price of BTC as low as $3,000 in the near term.
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“The bears have been pressing and testing the key daily ascending trend line to the downside. A breach is very possible given the current pressure. The noted running support has been in play since 6th February, a breach could very devastating.
BTC/USD could be victim of chunky selling pressure should the comfort line give way, eyes on $3,900, where the trend line is currently tracking. A breakout south could open the door to a retest of $3,000 to the downside.”
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