A cryptocurrency trader under the nickname Jack Sparrow made an interesting forecast for the Bitcoin cryptocurrency. He conducted a comparative analysis of the Bitcoin cryptocurrency charts for November-December 2017 and the current behavior of the digital asset. As a result of the technical analysis, according to the analyst, these charts are the exact opposite – the patterns on the chart in December 2017 symmetrically coincide with the movement of Bitcoin's value over the past two months. To see this, it is enough to flip one of the charts. A similar trend is observed even in trading volumes. And although Jack Sparrow does not undertake to assert when Bitcoin will reach the bottom, he assumes that the bottom of the Bitcoin cryptocurrency will form around 3000 dollars.
The trader also named a few more positive factors that may become harbingers of the upcoming bull run: the coincidence of price growth with the coin's halving cycles; the previous bottom was formed approximately the same number of days before the halving; support of the 200 MA moving average (on the 1-week chart). It is worth noting that last time Bitcoin changed its trend from bearish to bullish within the range of 57.7 to 70 percent of the blocks mined since the 2012 halving. Now the cryptocurrency has already covered 62.4 percent of the way from the 2016 reward split. In other words, BTC should find its bottom in the coming months, if not weeks.
But other well-known personalities in the crypto sphere have concerns about the future of Bitcoin. Earlier, Civic CEO Vinny Lingham said that "the crypto winter will become nuclear" if the main cryptocurrency falls below 3000 dollars. According to him, this mark is the most important psychological resistance level for most market players.
