BTCUSD - Very Bearish!!!

٢ أبريل ٢٠٢٠

There is a lot of traders who would disagree with this view but i have been a massive crypto bear especially on BitCoin for a long time, I am expecting BTCUSD to drop to sub 1k levels most likely 1k-1.5k in the next 12-24 months. At current levels the price could rally up to low 7k prior to tanking. Bitcoin along with all other Crypto currencies and especially Altcoins will lose 95-99% of their values with 99.9% of altcoins being deemed worthless when the bloodbath ends. There is no intrinsic underlying theoretical value to these crypto currencies. I will be looking to short BTC in the days and months ahead considering the flight to cash and risk averse mentality that eventuate with a flight towards risk free assets already being seen with desperation around the consensus hoarding essential items.
Analyzing BTC from a wave perspective under the Grand super cycle we are expected to retrace back towards 1k over the next couple of months. Watch this space!!