A trader on Bitcoin Live, Bob Loukas, released a new video on his YouTube channel on Tuesday April 2, explaining to his followers why he thinks a new 4-year trend for BTC, the leading cryptocurrency by market cap (MC), has started.
Loukas has been trading in different markets for over 25 years. He thinks BTC will top out at around $200,000 to $300,000 by October 2012. From there, the crypto will set foot in a bear market.
Bob had released a video few months (mid-January) ago showing that we are approaching the end of the bearish trend in crypto.
“The Cycle in almost all asset classes is dominant in the market. It influences the shorter duration Cycles greatly and is the drive of all bull and bearish trends,” he said.
It’s wise you watch these two vital videos to appreciate and properly comprehend the trends in BTC.
While describing and commenting on his video, Bob Loukas said:
“I provide no financial advice here. I am sharing my personal views and how I plan to invest. This is for Long Term investors only.”
Currently, Bitcoin is trading at $5,037 (1.85% 24-h) with the market cap of $88.795 billion, Ethereum is also changing hands at $163.49 (-1.61%) with the cap of $17.25 bln and Ripple is at $0.3449 (-1.44%) with a cap of $14.401 billion, according to coinmarketcap data.
Albeit, even if you do not take him to be correct, there is some significant logic in the predicted calculation when you consider at what is trendy in the entire crypto market at the moment. Various companies are, actually now, attempting to consolidate it. Several firms are adding capital in the digital currency sector.
Some distinguished launches such as Bakkt, the platform developed by the Intercontinental Exchange (ICE), that possesses the New York Stock Exchange, will be officially released in this very year and we may ultimately see the United States Securities and Exchange Commission (SEC) making a final decision approving the Bitcoin ETF.
The decentralization advocates may even comment on decentralized exchanges (DEXs), that some are set to be rolled out in 2019. Nevertheless, they are already 20% of the exchanges in the market and comprise not more than 1%, so the market should not be too plugged about them.
In case these predictions and products are really fruitful, the majority public may even be engrossed and interested in Bitcoin all over again, though, this doesn’t imply that the next bull run has started or is near.