The Same Trader Who Predicted Bitcoin’s $3k Bottom Is Now Bearish

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Most investors have no idea which way Bitcoin will trend. Take the funding rate of BTC futures markets, which are flip-flopping between slightly positive and slightly negative as the consolidation drags on. The chart seen below shows this trend. Chart of BTC’s price action over the past three months with BitMEX funding rate + premium index. Chart from TradingView.com A trader that predicted Bitcoin would bottom at $3,200 months before it did in 2018, though, recently shared bearish sentiment. He shared an analysis predicting that BTC is likely prone to fall to the low-$8,000s for the first time in around 10 weeks. Bitcoin Could Soon Plunge Towards Low-$8,000s, Says Top Analyst Six months before Bitcoin fell as low as $3,150 in December 2018, a trader speculated that the then-ongoing bear market would end at $3,200. He was proven almost exactly correct when the asset dipped to that region. That same…

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