Categories: Bitcoin Business

Analyst Says Bitcoin Is About to Seriously Impress Us

Click here to view original web page at

As of late, bitcoin – the granddaddy of all crypto – is once again experiencing small bursts of bearish behavior. At press time, the currency has fallen roughly $200 since yesterday afternoon, and is now trading for less than $10,150.

Bitcoin Isn’t Done Impressing Us

And yet, there are many analysts out there that seem to believe the bulls aren’t quite done yet. Some suggest that an entirely new bull run is about to enter the crypto market, and bitcoin is going to surge beyond our wildest dreams.

So, why do they think this? What’s making them believe that bitcoin is not done surging, and what evidence do they have that serves their hypotheses?

While we may not be able to see it, Hans Hauge – a senior qualitative researcher for the crypto investment firm Ikigai – says that bitcoin is behaving in a way similar with this time of year during 2017, just months before it exploded to roughly $20,000 per unit. In a series of Twitter posts, Hauge explains:

Our current level of reserve risk is equivalent to where we were in the early part of 2017. That was right before things got crazy and six to nine months before the bubble burst. Bitcoin was around $1,000 to $2,000 at the time. Bitcoin bubble tops are clearly identified with a dark red cluster of adjusted binary bitcoin days destroyed. Until that happens, we’re not at the top. Public opinion is key here because that red cluster is caused by the assumption of the crowd and is self-fulfilling.

Hauge went on to say that crypto-based fear and greed indexes are considerably low, thus paving the way for further spikes. Bitcoin is based on speculation, and so long as its audience believes in it, it has a chance of doing well. He explains:

[The Bitcoin] Crypto Fear and Greed [Index] is printing all-time lows. That’s the exact thing you should be looking for if you’re buying the dip for the long-term.

Many Analysts Are in Agreement

It’s unknown where bitcoin will go in the immediate future, though for the most part, this bullish sentiment seems to be striking analysts from every corner of the space. Venture capitalist Tim Draper, for example, has long proposed that bitcoin will spike to more than $250,000 by the year 2022, though he’s recently pushed his prediction back a few months.

In addition, men like Tom Lee of Fundstrat fame are still predicting massive moves for bitcoin by the end of the year. Considering we’re about to enter September and there are only four months left before 2020 shows its face, it’s hard to fully believe that bitcoin could maneuver itself into such high territory (i.e. $40,000 per coin) in so short a period, though that’s precisely what it did in 2017 – spiking from $5,000 in September to just under $20,000 by Christmas.


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Bitcoin Price Chart Forecast: BTCUSD Awaits Pennant Breakout

Bitcoin Price Forecast: A series of lower highs and slightly higher lows has formed a pennant pattern Regardless of direction,… Read More

2 hours ago

Billionaire Blackstone CEO Heaped Praise On Blockchain—But Made A Bitcoin Warning

Bitcoin has won over many from the traditional finance industry , but far more of the investment old guard remain… Read More

2 hours ago

Early Ethereum advisor charged with extortion and arrested

The accused, Steven Nerayoff, violated the agreement made with a blockchain firm. If found guilty, Nerayoff and his associate Michael… Read More

2 hours ago

CME Group Reveals Plan for Bitcoin Options in Q1 2020

Leading derivatives exchange operator, CME Group announced in a press release today that it will launch options on its bitcoin… Read More

8 hours ago

Analyst: Bakkt Launch to Improve Trustworthiness of Crypto Markets

For the past year many participants within the crypto markets have been looking towards the official launch of Bakkt as… Read More

8 hours ago

IBM Stock Gets a Blockchain Pop

IBM (NYSE: IBM ) investors haven’t had all that much to complain about in 2019. After a precipitous drop over… Read More

8 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More