The pseudonymous crypto analyst and trader that accurately predicted Bitcoin’s dump, down to the dollar in 2018 has aired a new 2022 bullish prediction for Bitcoin.
The pseudonymous crypto analyst answers to the Smart contractor username on Twitter. He has now predicted that Bitcoin will feature new record highs down the road in 2022. His projections put Bitcoin on a bullish warpath for most of 2022, despite its current relentless bearish dump.
This development came in a tweet that SmartContracter shared with his 203,400 follower base on Twitter where he said that he firmly believes that Bitcoin will dump to a yearly record low before fielding a reversal move that will send price rallying above $100,000 come December.
Smart Contractor’s tweet summarized his bullish sentiments and referenced his expert opinion, the tweet referred to a post he shared last December, stating that the post then seemed a joke, but it had always bugged him. According to the new tweet, he said that his featured December reports might become feasible in the nearest future. He added that there’s is a high probability of price re-correction once the market exhausts its bearish momentum in the long run. Bitcoin will survive! he concluded.
SmartContracter’s Price Projections
SmartContracter’s featured analysis chart reveals the analyst’s unique outlook that places Bitcoin price action as a mirror of the Dow Jones Industrial Average (DJIA) market structure that was highlighted in the global finance market between 1998 and 2012. Between 1998 and 2012 DJIA not unlike Bitcoin traded in wide bearish trends that lasted for a long period before a sharp reversal that saw the index gain all its lost price value.
Although SmartContracter remains one of the foremost long-term bullish BTC proponents, he estimates that Bitcoin will dump to reach the $30,000 price mark before it exhausts the current bearish momentum. A bullish reversal can only be featured once bears have exhausted their momentum, he concluded..
Bitcoin’s price dip in 2018 was predicted by pseudonymous analysts before its bearish run.
The analyst accurately predicted BTC’s future price dump as at then, his prediction then was accurate to the dollar, the precision of his prediction served as a credibility booster do the pseudonymous analyst.
He predicted that the number one coin will dump to exactly $3,200 with an allowance of $200 on the upside and downside.
Similar to his 2018 Bitcoin price prediction, SmartContracter has levied a price dump projection for the crypto flagship, he predicts a bearish price run down to the $25,800 price mark with a $1,000 allowance on the upside and downside.
Bitcoin’s Price Action
Bitcoin’s price action in transition into 2022 was net bearish. Analysts had previously predicted possible price retracement for the crypto should it halt its bearish momentum beyond the critical support level at $40,000.
However, Bitcoin dipped past more than one crucial support price mark, at $40,000 and $36,000 to trade at a record low of $35,000. Price subsequently corrected itself and gained lost value temporarily.
Bulls continued to hold steady but couldn’t resist the market’s sell pressure and handed the initiative to bears as Price dumped to a seven-month all-time low to trade at $34,000 by the end of Saturday.
As of press time, Bitcoin trades at $35,245 with a market capitalization of $667.47 billion.
