Bitcoin Comment by Analyst Knowing the Decline in 2018 – Somag News
Famous cryptocurrency analyst SmartContracter made a new forecast on the Bitcoin price. The analyst, who thinks that Bitcoin is currently drawing a healthy chart, thinks that the price of Bitcoin can go up to $ 13,000.
While the total value of the crypto money market was $ 386 billion a few days ago, it now appears to be $ 357 billion. This $ 30 billion shrinkage in the market was of course reflected in the Bitcoin price, and BTC fell to the $ 11,400-11,500 range.
Famous investors like Dave Portnoy decided to sell their Bitcoins after this decline in the market and left the market. Investors who continue to do HODL are wondering whether the Bitcoin price will rise again.
Can Move Upward
The famous analyst, whom we know as Smart Contracter on social media, shared a graphic yesterday and explained his expectation for Bitcoin. Saying that Bitcoin looks healthy despite yesterday’s decline, the analyst states that there is a strong support in the range of $ 11,000-11,300.
According to this analyst’s view, Bitcoin will continue to move upwards with support from this region. The analyst says that during this period, there may be slight fluctuations in the market and we can witness some relaxation. But despite all this, the goal he gave for Bitcoin; $ 13,000 level.
One of the main reasons why this analyst, named Smart Contracter, became famous is that his prediction in 2018 proved correct. This analyst said that in 2018, when the Bitcoin price was still around $ 6,000, the price would drop to $ 3,000, and it received heavy criticism from many investors at that time. However, after a while, Bitcoin started to move downwards, just as Contracter predicted, and declined to $ 3,000.
Expert Opinions In This Direction
Smart Contracter is not the only person making positive predictions about the Bitcoin price. Last day, we shared some notes from Grayscale’s report called Valuing Bitcoin and explained the indicators that could be a harbinger of a new rally.
The Grayscale team thinks that recent macroeconomic developments, the trend in the Bitcoin network and the general situation in the market are in favor of Bitcoin. Grayscale, one of the biggest names in the industry, says that this is why Bitcoin is now drawing a similar chart to the one in early 2016 and we could face a new rally.