Prominent crypto analyst and trader Bluntz suggests that, contrary to widespread belief of a substantial downturn, Bitcoin (BTC), the world’s largest cryptocurrency, could be on the verge of a significant rally. Here’s the BTC prediction put forward by the analyst.
Bluntz Expects Bitcoin to Surpass $28,800
Anonymous crypto analyst and trader Bluntz indicated that Bitcoin is showing potential signs of a breakout and expects the leading crypto to move upward. The analyst foresees Bitcoin surpassing $28,800, making the following statement:
BTC returned to the range I had marked after moving up and down. After a daily close targeting $28,800, investors will want to buy every dip. Actually, I expected a slower rise after coming below the range, but it was quite sharp. This sharp movement indicates that another sharp move upwards is coming.
Earlier, when BTC was trading around $27,500, more than a week ago, Bluntz had warned that the leading crypto was signaling danger and predicted a downturn. Indeed, following lawsuits separately filed against Binance and Coinbase by the U.S. Securities and Exchange Commission (SEC), Bitcoin fell below $25,400, a low last seen in March. Remarkably, Bitcoin rebounded quickly from this pullback and rose to $27,300.
“Bitcoin Price Has Bottomed Out”
Bluntz’s upward expectation for Bitcoin mirrors that of widely-followed crypto analyst Credible Crypto. Credible Crypto stated that Bitcoin had hit rock bottom following the decline caused by the SEC’s lawsuits against the two leading crypto exchanges, saying, “Liquidity was drained severely and refilled perfectly. Then came a strong upward move right after the SEC filed lawsuits against Binance and Coinbase consecutively. If panic-induced liquidations were to happen, this would have been a perfect timing for this drain. All these occurrences lead me to believe that the BTC price may have bottomed out, and there won’t be a new bottom movement.”