Crypto Analysts Make A Bet of 0.1 BTC Over Bitcoin Price Bottoming At $1,165
Bitcoin Bottom Is Coming But The Question Is At $2k Or $1k
There have been several price predictions as to when will Bitcoin hit the bottom or if we are currently at the bottom. Also, there has been no shortage of new all-time high projections at about 90k, 100k, and 300k.
However, the bullish momentum won’t be starting until Bitcoin first hit its bottom and now two analysts have made a bet if it is going to be between the “$1,600 – $2,300 area” or even more below at $1,165.
“MustStopMurad is calling for a bottom in Bitcoin in the $1,600 – $2,300 area. I'm calling for a return to Phase 1 of the Hyperwave at $1,165 & could see it spiking even lower. I proposed a 0.1 BTC bet & Murad accepted! Terms are $1,165 gets hit on Bitstamp before $10,200.”
Could it be possible in this “friendly wager” that both the parties lose, according to Financial Survivalism, “Can't both be wrong in regards to the bet. If this level holds then we will hit $10,200 before $1,165.”
In mid-January, Murad had shared a series of charts in context of “What if the history does indeed rhyme?” sharing, “If the above dynamics are correct and history does indeed rhyme – which is a big if — We can expect a 1700-2200 bottom in the Spring (most likely April).”
Bitcoin Delta Capitalization: What Does It Say About Bottom
Recently, we reported that another popular crypto analyst, Willy Woo has shared a new Bitcoin metrics valuation where he details the target which is below $2k. This has been in collaboration with David Puell, who in his latest Medium post, talked about it in detail.
He says Delta cap provides an “excellent framework” for catching the global bottoms if not that at the very least bottoms “near the floor of the bear cycle.” However, he does caution that it doesn’t guarantee that we have actually bottomed.
He goes onto explain,
“We can easily gauge periods were delta approaches realized cap during the bubble tops, and then evermore slowly descends to almost touching the average cap during the phases of breakout price behavior, signaling the inauguration of the new bull run.”
However, this means if the pattern continues, “people will have lots of time to buy up,” but it also means, the bear-to-sideways market would last for an “unprecedented” while. He goes as far as to say that the post-accumulation breakout could then happen as late as Q2, 2020.
Market-Value-to-Delta-Value (MVDV) Ratio
At the time of writing, the leading cryptocurrency has been trading at $3,640 with 24-hours gains of 0.27 percent while managing the daily trading volume of $6 billion.