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Forecasts on the future of Bitcoin and the crypto markets are pouring in from top investors as BTC hovers below $42,000.
A popular pseudonymous whale and trader who goes by the name Light says he believes Bitcoin has reached a bottom, and traders who sell at current levels are making a mistake.
“People really are capitulating into one of the most stacked bids I’ve ever seen, and into key support. Emotional. Will be punished shortly I think.”
The whale also points to a historic level of support for Bitcoin to highlight his case that BTC may have reached a floor.
“Don’t really like to speak in deterministic terms, but if you sold here I think you just sold the bottom.”
Kyle Davies, the co-founder of crypto investment firm Three Arrows Capital, shares the same sentiment.
“I have meditated for three weeks, no Twitter, only prayer. I have seen the future. And it does not include Bitcoin dying.
Rise like a phoenix from the ashes, the BTC bottom is in.”
Fellow Three Arrows Capital founder, Zhu Su, is also bullish.
“If you’re selling BTC at 2x previous all-time highs over four years just go back to underperforming SPX every year and leave the rest of us in peace.”
And after warning BTC could go as low as $38,000, crypto investment guru Mike Novogratz is sending out a simple message.
Of course, not all analysts are calling for a turnaround.
After accurately forecasting the start of the Bitcoin bear market back in 2018, veteran trader Peter Brandt warns BTC has just violated its parabolic trend – although he’s not making a firm prediction on what’s coming next.
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