Despite Recent Crash Bulls Preparing for Bitcoin to Skyrocket
As of late the price action has been bearish, never the less the biggest bull of Crypto Twitter expects a reversal in the near horizon.
Many other traders don’t share this optimism and expect to see Bitcoin retrace back to $6,000 levels.
The top cryptocurrency by marketcap is now trading below $8,000 following another recent price drop, leaving crypto enthusiasts unoptimistic.
Bitcoin has been in a slow decline since bitcoin soared to over $10,000 on October 26th. At this point many bystanders expected Bitcoin to continue its previous bull trend, but unfortunately so far this hasn’t been the case.
Despite these negative sentiments, Crypto Twitter’s biggest bull “Majin†believes strongly that Bitcoin is due for a reversal, and that Bitcoin is currently bottoming out. He believes that smart money investors are now accumulating Bitcoin in this period, preparing for the next round up.
In Majin’s analysis of bitcoin’s weekly chart we can see it is still respecting an uptrending line with a decline in volume.
Other prominent analyst don’t share Majin’s optimism, as he appears to be alone with optimistic outlook on bitcoin, expecting it to continue it’s decline to $6,000.
