New Bitcoin Bottom Prediction Is Out

There are all kinds of crypto predictions these days following the recent significant crash that we have all witnessed. Check out the latest reports about the price of Bitcoin and the king coin’s bottom.

The crypto analyst who called the May 2021 Bitcoin collapse and the double top pattern at $69,000 says that the bottom is nearly in for BTC.

The pseudonymous analyst known as Dave the Wave has recently explained that he foresees Bitcoin trading near the 48-month moving average, a spot where BTC historically tends to carve a bottom.

“Arguably, another month in it [on the basis of this metric]… which is what you’d expect if price is to re-test the lows over the course of this month.”

He also made sure to highlight the fact that the Bitcoin bottom could be established as soon as this month.

Just to refresh your memory, back in October of 2021 when Bitcoin was surging past the $60,000 price mark, Dave the Wave said that BTC would ultimately form a double top pattern near $65,000 or so before coming back down and forming a double bottom near the lows at $29,000.

“I think this was my first mention of a double top [back when it was an anathema]. If a double top, why not a double bottom….?”

At the moment of writing this article, BTC is trading in the green and the king coin is priced at $30,966.

Earlier today, we revealed that Bloomberg Intelligence analyst Mike McGlone said that BTC and ETH will lead to the most gains after the recent price dip that affected all asset classes.

In a new interview with Yahoo Finance, McGlone pinpoints the Federal Reserve’s interest rate hikes as being more detrimental to the US stock market long term. He compared these to the proven digital assets like Bitcoin (BTC) and Ethereum (ETH).