A prominent cryptocurrency analyst who gained popularity for accurately predicting the timing of a market crash in 2019 is now warning traders that the price of Bitcoin could be heading towards lower ranges. In a new tweet, Dave the Wave, as he is referred to, described what is happening in the exchanges. Prominent cryptocurrency analyst scares off declines Dave the Wave, who accurately predicted Bitcoin's collapse to $6400 from $11400 in 2019, claims that it is now bearish, but in a shorter time frame. In his view, "there are obviously no certainties [especially in the short term], but the price action is currently on track for a series of lower peaks and lower lows..." Dave the Wave further points out that during its attempt to return to $60,000 in May, Bitcoin struggled to regain the $58,000 level. The cryptocurrency trader also published a chart showing a head-and-shoulders pattern, the presence of which can sometimes signal the end of a bull trend. Will we wait six months for a new ATH? Polish trader NexusHash, who publishes his forecasts on crypto-trader.pl, is of a similar opinion. He has now stated: Everything indicates that the 3-month distribution on the cryptocurrency market has come to an end and it is time for a correction of several months. The increases were largely fueled by Americans' money from the US central bank's stimulus package. (...). What we see at the top of the BTC chart resembles Richard Wyckoff's classic distribution pattern. Alts will certainly behave similarly, especially since many of them have risen 10-30 times in less than six months. The time for profit taking has already ended in this bubble cycle, those who haven't sold at least some of their crypto-assets will have to wait until the next peaks of at least six months, when Bitcoin will once again vie for $100k. You can always check the current exchange rate of bitcoin and other cryptocurrencies in the tabs: bitcoin exchange rate and cryptocurrencies exchange rate at bitcoin.pl. A place where you can buy BTC and other coins is the BitBay.net cryptocurrency exchange. If you don't have an account on BitBay yet, this article will show you how you can create one efficiently: LINK. Tags bitcoin bitcoin price btc rate declines Prominent cryptocurrency analyst
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