There have been many experts talking about many things in the Bitcoin and altcoin news and rumors over the past couple of months. This shows that the end of 2019 and start of 2020 have been awesome times for crypto. However, the analyst who predicted the $6,000 BTC crash is now in the news for his next verdict.
We are talking about filbfilb, who predicted the crash and in 2018 called the cryptocurrency’s bottoming price around $3,000 – as well as the subsequent surge. Pseudonymous and mysterious, this analyst has been right a lot of times and previously said that he expects Bitcoin to surge towards $10,000 and then crash to $6,400 – finding a macro bottom.
All of this was again right. In the next report, the analyst who predicted the $6,000 crash shows optimism about the leading cryptocurrency as it is heading into 2020.
The latest edition of Filb’s Decentrader newsletter shows that with the latest price action in mind and as BTC bounces off the $6,000s and rallies to the $8,000s, he is bullish heading into the block reward reduction in May of this year.
“Overall, Bitcoin is exactly where [I] anticipated; slowly grinding up towards previous resistance… I’m very much of the opinion that Bitcoin will reach to at least $12,500 level before the halving,” he said.
The analyst who predicted the pace of Bitcoin also said that if BTC wants to rally to $12,500 before the halving, it will need to rally by nearly 50% from the current price of $8,450.
When asked about why he sees $12,500 as an important level, he noted that this is the “top target” for a bullish inverse head and shoulders chart which is forming on a medium-term basis for Bitcoin.
Filbfilb also added that people calling for BTC to fall back in the $5,000s are scared – and said that he sees no case for such prices on the macro charts. If we see the opinions by other analysts, we can find that this is true – and many of them believe that the upcoming Bitcoin news will show a strong price action and possibly new gains.
As a reminder, in the four months before the first halving in 2012, BTC rallied dozens of percent higher and went from $10 to $14 by the time of the event. In the 2016 halving, the price ran from $432 to $700.
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