While an increasingly larger group of analysts predicts the start of a long bear market for Bitcoin, the pseudonymous analyst goes against the current. He states that Bitcoin is still in a bull market, and expects new all-time highs for the digital currency within the foreseeable future.
Second phase of the Bullmarkt
In Mortal speaks in its analysis of the “second phase of the Bullmarkt,” which should come on the basis of the price history. In the graph he shares, the analyst suggests that this second phase of the bullmarkt should last until the end of the year.
While he zooms in, Innmortal points to a potential course path for Bitcoin. In the coming months he expects Bitcoin to continue to act in the existing price range, and then break out and move towards new records.
“It will look like that,” said Inmortal in commentary on the graph below.
Bitcoin sideways until June
For the new price records that Inmortal predicts, we still have to be patient. He draws a scenario in which Bitcoin continues to act in the price range from $ 90,000 to $ 76,000 until June.
The rises to $ 140,000 must then start. At the time of writing, the Bitcoin rate acts well above $ 86,000, and we can speak carefully about a bottom. After all, the race fell to $ 76,700.
Note, however: this is of course purely about technical analysis and that is not an exact science. In addition, Inmortal does not take a lot of other circumstances with this, such as the macro-economic landscape and the trade policy of Donald Trump.
These are of course factors that can still ruin the party. It is anything but certain that the downward trend of Bitcoin is really over, but the story of Innmortal is at least hopeful.
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Source: https://newsbit.nl/analist-gaat-tegen-de-stroom-in-en-voorspelt-nieuwe-bitcoin-all-time-high/
