A crypto strategist who sent an early warning about Bitcoin’s (BTC) big correction last year is back with another bold prediction.
Dave the Wave is highlighting a new outlook from entrepreneur and Bitcoin investor Bob Loukas, who expects BTC to crater at the end of the current bull cycle.
“To date, cryptofinance remains a laughed at and obscure market on the fringe of finance. Near the top of the next great Crypto bubble, market cap and penetration will hit ‘warning levels’ that concern the financial establishment.
In response, I believe you’re going to see coordinated full attack that will send crypto into savage + prolonged bear market. (Time+Price) Of course, it will adapt. Engineers will dig deeper. And in many ways, that act will serve as its right of passage.”
Dave predicts that after the current bull market, Bitcoin will go through a “solid correction” for a few years before restarting a new boom cycle that will catapult the leading cryptocurrency above $280,000 at the end of 2027.
In the short term, however, Dave is telling is 38,000 followers that the month-long Bitcoin correction may be coming to an end as technical indicators flash bullish signals.
“Third time lucky?”
The crypto strategist is also keeping a close eye on the performance of a select group of altcoins, which includes Ethereum (ETH/USD), Chainlink (LINK/USD), Cardano (ADA/USD), NEO (NEO/USD), Monero (XMR/USD), and Tezos (XTZ/USD).
Based on Dave’s chart, Chainlink has been the best performer since the 2018 bear market bottom, and it is closely followed by Ethereum, Cardano, NEO, Monero, and Tezos.
Dave compares the long-term timeframe charts of Ethereum and Bitcoin (BTC/USD). By doing so, according to the trader, Ethereum is poised to explode as it is a full bull market cycle behind Bitcoin.
“And the fuller history… suggesting ETH a cycle behind.”
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The post After Calling One of Bitcoin’s Biggest Crashes, This Crypto Analyst Says BTC Will Surpass $280,000 – Here’s When appeared first on The Daily Hodl.