Live on Foxbit's YouTube channel, financial analyst and trader Bo Williams, alongside computer scientist Solange Gueiros, conducted Bitcoin price analyzes, saying that the cryptocurrency may undergo strong corrections, falling below $ 40,000 . Bo Williams, with 24 years of experience in the financial market, is the creator of the powerful PhiCube trade system, the method used in this analysis. He is also a founding partner of educational companies Plenamente Trader and Trade ao Vivo, and a former partner of brokerages Clear and XP Investimentos. price again to rise and decide to consolidate at the tops reached before the market crashed.
You can imagine something like this here. Then it would be a behavior of the price to fall, to return, to test the top, to fail…. And the market begins to perceive ‘woow, the business is failing’, (…) many times the market does this and we are able to realize this potential when we realize that the tops are becoming more horizontal.
“And what I expect here, three movements in the counter trend (…). I can tell you that a wave three down is almost guaranteed. (…) Before I went on the air, I talked about 42, 43 (thousand). The possibility exists of reaching more, 34, 38. That would be normal. (…) Then it starts to test the previous tops, gaining support in the short term. ”
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But corrections below $ 38,000, around $ 31,000, may come with the realization of mass profit from the market. Being more detailed in his forecast, Boo indicated the drawing below for his price forecast. And he also said “take a print and put it on your wall”.However, the analyst said he is still optimistic for the long term of the cryptocurrency and that the bullrun is not over yet.
I don't think we're at the end of the bull market, on the contrary.
To follow the analysis in more detail, follow the live live on Foxbit's YouTube channel. Scott Minerd, CIO of Guggenheim Partners, a company with more than $ 270 billion in assets under management, said he expects a drop of around 50% in the price of Bitcoin, an even more pessimistic forecast than Boo's. What's your take on these predictions? Leave your opinion in the comments section below.Read more: Bishop Edir Macedo publishes video that associates Bitcoin with mark of the beast