Since Bitcoin (BTC) gained traction in the mainstream media, many skeptics and economists have claimed that the cryptocurrency space resembles the Dotcom boom and bust, but that the latter part of that equation has yet to play out in full. Thus, some, including crypto native traders, have claimed that lower lows are inbound for this market. But one analyst has come out to vehemently deny such hearsay.<\/p>\n
In this eyes of some analysts, crypto bulls are preparing to wave white flags in an act of surrender \u2014 capitulation, if you will. This potentially inbound bout of capitulation has led some analysts to claim that BTC falling under $2,000 wouldn’t be improbable. In fact, they believe that more likely than not, a fall through the aforementioned level for Bitcoin is still on the table.<\/p>\n
Technical analyst Financial Survivalism recently exclaimed<\/a> that the longer BTC fails to surmount a long-term declining trendline at ~$4,600, the higher likelihood that the cryptocurrency\u2019s price could \u201cmirror the price action from September 20th to November 25th of last year.\u201d<\/p>\n Per the analyst, this would mean that BTC could trade flat for another two to three months, before falling dramatically to the $800 price point. This, of course, is a worst-case scenario, but Survivalism does allude to a good point about market cycles and behavioral economics. In previous tweets, he noted that per the Hyperwave analysis technique, BTC could soon revisit $1,200, where it peaked in its previous rally.<\/p>\n Leah Wald, who also subscribes to the Hyperwave, as she has close ties to the creator of that analysis technique, Tyler Jenks. The popular trader recently took up a one BTC bet<\/a> with Filb Filb, as she believes the Bitcoin price will hit $1,500 before it trades above $6,500 on Bitstamp.<\/p>\n I don't like those terms but I am willing to entertain your action @filbfilb<\/a>. @LucidInvestment<\/a> and I are willing to bet 1 BTC that price trades below $1,500 on Bitstamp before it trades above $6,500.https:\/\/t.co\/OAClWq8NcK<\/a>@ToneVays<\/a> @Crypto_Core<\/a> @Sawcruhteez<\/a> @DougPolkPoker<\/a> pic.twitter.com\/OznWkMAg5K<\/a><\/p>\n — Leah Wald (@LeahWald) March 5, 2019<\/a><\/p><\/blockquote>\n\n