Is The Crypto Bear Dead Yet? Trader Calls For Bitcoin Double Bottom

April 1, 2019 BitcoinTalkRadio 0 Comments

Story by: NICK CHONG |

Over recent weeks, Bitcoin (BTC) has embarked on a slow and steady uptrend, moving convincingly off the mid-$3,000s. With the crypto asset recently holding above $4,000 on the back of an influx of volume, some are sure that bears in this market are ready to bite the dust.

But according to a popular trader, bears might get one last hurrah in the form of a final sell-off, which will likely mark the end of the ongoing market cycle.

BTC To Double Bottom

Per analysis completed by Roger Quantrillo, there’s a likelihood that Bitcoin could find itself at $3,200 once again, in spite of the reports that this budding market is off of thin ice. Quantrillo looks to 2014-2016’s cycle, which saw BTC test a high, pullback by ~80% to a low at around ~$250, partially recover, and revisit the same low region again. This was followed by the monumental rally seen in 2017, which catapulted cryptocurrencies to the mainstream in a sudden turn of events.