Galaxy trader: April will be the last month of cheap Bitcoin
Crypto enthusiasts are always concerned with the question of what the price of Bitcoin will be in the coming months, especially if technical analysis points to the upcoming trend.
However, there are those who still do not lose their “bullish” mood for the coming months and rely on the historical analysis of the crypto market.
PRICE BITCOINS — WHILE THE LOWEST!
Known in this industry, a crypto trader under the nickname Galaxy recently noted that the current price range of $ 3000 - $ 4000 may be the last opportunity to make "relatively inexpensive investment" in Bitcoin.
Based on the historical analysis of Bitcoin, Galaxy stated that since the appearance of Bitcoin, a tendency has been established when it reaches a historical maximum, then successfully survives a sharp price drop, a period of accumulation takes place, and then it is restored to a new maximum. Based on this trend, Galaxy expects that over the next 1-2 months, Bitcoin will be at the recovery stage, and then no one will see the range of $ 3000 - $ 4000.
- “Though prices seem random for some people, they actually create repetitive patterns and trends. Observation of such models suggests that April will be the last month of relatively cheap Bitcoin, which has not yet come out of the $ 3,000 - $ 4,000 range. And such a price will never be again."
In addition, the fundamental analysis also suggests that an inflow of institutional funds is expected in the third and fourth quarters of 2019.
Last month, Ari Paul, investment director at Blocktower, also noted that institutional investors "may come into crypto space in Q3 2019."
Meanwhile, predictions based on a technical analysis of the cryptocurrency market have recently intensified.
Bloomberg Intelligence analyst Mike McGlone recently stated:
- “The industry is ripe for the resumption of price cuts. Conditions are similar to those that were shortly before the collapse in November. Prices are consolidating in narrowing ranges, with some passing rally taking place in a market.”