Analyst Who Predicted 2018 Bitcoin Bottom Now Optimistic on BTC

A renowned cryptocurrency analyst and trader who accurately predicted Bitcoin's bottom in 2018 is now expressing optimism about the cryptocurrency

The analyst, known by the nickname “Bluntz,” said that he believes Bitcoin has likely reached its lowest point after completing an ABC corrective pattern on the four-hour chart.

clear 3 wave move down on $btc so far, this ends up being a higher low imo.

time to bid your favourite coins. pic.twitter.com/PvgrjiQwNe

— Bluntz (@Bluntz_Capital) August 15, 2024

Bluntz is recognized for his expertise in Elliott Wave Theory, which suggests that bullish assets often rally after a three-wave correction.

According to him, there has been a distinct three-wave move down in BTC so far. He believes this could be a higher low, arguing that it may be time for investors to consider committing to their preferred coins.

Based on the shared chart, the analyst seems to expect that Bitcoin could rise to $68,000.