Popular Crypto Analyst Goes Bullish On BTC And AVAX, Here’s What He Said

Attributable to the Bitcoin (BTC) and crypto market uncertainty, predicting the next trend pattern for crypto assets is normally difficult. Nonetheless, analysts have all the time released predictions for many crypto assets. While some projections turned out to be accurate, some still did not occur as predicted.

One analyst became popular for releasing an accurate prediction for Bitcoin’s 2018 bottom six months before the period. Nonetheless, the pseudonymous analyst and trader, Smart Contracter, is suddenly bullish in his recent predictions.

Analyst Scraps Bearish Stance On Bitcoin (BTC)

Smart Contracter took to Twitter to tell his followers about his plan to scrap his bearish bias on the BTC/USD trading pair. His latest decision was based on the recent Bitcoin price breaking out to a better range.

Smart Contracter noted that Bitcoin could perform higher than other cryptocurrencies in the long run. He explained that the BTC’s price motion is currently more impressive because of the impulsive disposition. The analyst disclosed that he desired to shift to long positions in his trades once the chance got here through a breakdown.

Further, Smart Contracter projected charts to elucidate the possible price trend for the leading crypto asset. For instance, he predicted that Bitcoin would surge by greater than $18,800. Also, he used Elliot Wave Theory to support his technical evaluation for BTC.

Smart Contracter reported that BTC would display a 5-wave pattern for its primary trend, but its corrective movement will follow a 3-wave way. Also, he predicted that Bitcoin’s dominance over the altcoins would hit 43%.

now that #btc broke out of this slow choppy grind up, im scrapping bearish bias and searching to long pullbacks.

Price motion looks impulsive to me now and that i also consider with btc on the cusp of taking out the december high btc dominance will rise and btc outperform alts. pic.twitter.com/3oOYmky5Pb

— Bluntz (@SmartContracter) January 12, 2023

Following the collapse of the FTX crypto exchange and the growing intensity of the crypto winter, crypto prices dropped drastically. BTC lost its value because the pressure in the complete market kept increasing. With growing fear and uncertainty, the value of Bitcoin dropped to the $15K region in November 2022. However the trend is getting bullish as volatility is now on the rise.

On the time of writing, Bitcoin is trading around $19,275, indicating a rise over the past 24 hours. Its market cap sits at $366.43 billion, signifying a growth of 4.62% up to now day. Also, BTC’s dominance over altcoins is 40.26%.

Bitcoin crosses the $19,000 on the each day candle l BTCUSDT on Tradingview.com

Analyst Seeks Opportunity To Buy Avalanche (AVAX)

Smart Contracter gave some striking points concerning Avalanche (AVAX), the smart contract blockchain. The analyst mentioned that AVAX seems to have hit bottom following its 90% correction from its all-time high (ATH). For him, a future downward correction from Avalanche might be a buying opportunity.

On the press time, the value of Avalanche is hovering around $15.53, showing a surge of 4.19% up to now 24 hours. Based on data from CoinMarketCap, Avalanche’s market cap is 4.92 billion, and the token is ranked because the seventeenth top crypto asset. Its market dominance is now at 0.54%.

Besides Smart Contracter, one other crypto analyst has predicted a price rally for Bitcoin and the broader crypto market. A crypto analyst often known as Kaleo reported closely monitoring the stock market. He stated that a surge in the standard stock would trigger a price rally for BTC and other assets.

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