A prominent Bitcoin trader and analyst has resurfaced, offering a decidedly bullish comparison between BTC’s recent price action and its historic 2017 rally.
AngeloBTC – a self-proclaimed whale whisperer who earned a reputation as a top trader on BitMEX – posted a chart to his 149,000 followers on Twitter showing that BTC is currently knocking out bears left and right.
His new tweet mirrors one he made back in January of 2017, in the early days of Bitcoin’s long-term boom and bust rally to an all-time high of around $20,000.
— Angelo฿TC (@AngeloBTC) April 29, 2020
Angelo has previously predicted that BTC is on a long-term trend toward $30,000.
“Crazy how they had to tank the stock market to shake people out before the halving. Crazy how we are still going to $30k.”
Meanwhile, another known crypto whale who goes by the name Joe007 is updating his outlook on the leading cryptocurrency.
The whale, who has consistently topped the leaderboard on the crypto exchange Bitfinex, says his short-term bearish case for BTC has been invalidated.
However, he cautions that a bearish case for BTC could still emerge in the midterm.
Short-term it's definitely blown. Mid-term, yet uncertain.
— ᴹᵁᴴ𝔍𝔬𝔢⁰⁰⁷ 🐳 (@J0E007) April 29, 2020
Joe is currently facing a $20-million monthly loss from short positions on BTC for the month of April.
Despite reports of sky-high trading volumes on leading crypto exchanges such as Binance, he calls Bitcoin’s surge an “organized FOMO rally,” and has recently warned that the market is currently dominated by “phantom” money, with an excess of trading tactics, like spoofing, with too little fiat entering the market.
At time of publishing, Bitcoin is up 3.08% in the last 24 hours at $8,772, according to CoinMarketCap, after breaking $9,000 and soaring to a short-lived high of $9,422.
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