• Analyst Smart Contracter released an accurate prediction for Bitcoin’s 2018 bottom six months prior.
• He recently became bullish in his recent predictions due to Bitcoin price breaking out to a higher range.
• He used Elliot Wave Theory to support his technical analysis and predicted that Bitcoin would surge by more than $18,800.
The world of cryptocurrency and blockchain technology is filled with uncertainty, and predicting the trend patterns for crypto assets is usually difficult. But despite this, analysts have still released predictions for most crypto assets, and some have even turned out to be accurate. One such analyst who has gained popularity for his accurate prediction of Bitcoin’s 2018 bottom six months before the period is the pseudonymous trader and analyst, Smart Contracter.
Recently, Smart Contracter took to Twitter to inform his followers that he is now shifting his stance from bearish to bullish on the BTC/USD trading pair. His decision to shift to a bullish outlook was based on the recent Bitcoin price breaking out to a higher range. He went on to explain that Bitcoin is expected to perform better than other cryptocurrencies in the future due to its impulsive disposition, and he wished to capitalize on this by entering long positions once the opportunity came through a breakdown.
To support his technical analysis, Smart Contracter provided charts to demonstrate his predictions for the leading crypto asset. He predicted that Bitcoin would experience a 5-wave pattern for its primary trend, but its corrective movement will follow a 3-wave way. He also projected that BTC would surge by more than $18,800. To back up his projection, he used Elliot Wave Theory to support his technical analysis for BTC.
Smart Contracter’s prediction for Bitcoin’s price movement is one to watch out for, especially considering his past accurate predictions. And while it is difficult to predict the future of cryptocurrency and blockchain technology, it can be said that investors should keep an eye on his predictions as they could provide valuable insight into the future of the crypto market.