Once Bitcoin (BTC) started to incur strong losses in the second half of 2019, analysts were once again making extremely low price predictions.<\/p>\n
Per previous reports from NewsBTC, long-time Bitcoin skeptic and CEO of Euro Pacific Capital Peter Schiff said in a tweet that the price of the leading cryptocurrency could dump to $1,000 to complete a chart pattern.<\/p>\n
And even recently, despite the price of digital assets rallying by dozens of percent since the December bottom, a number of traders have asserted that a $3,000 Bitcoin price is in the books.<\/p>\n
But, according to a prominent crypto analyst who called BTCs decline to the $6,000s, the idea that BTC is extremely bearish right now is somewhat irrational.<\/p>\n
Legendary analyst Dave the Wave recently laid out four reasons why he is surprised at the bearish sentiment he is seeing on Crypto Twitter:<\/p>\n
Dave isnt the only analyst expecting for Bitcoin to start to form an uptrend once again.<\/p>\n
Willy Woo partner at Bitcoin fund Adaptive Capital said in December that per his analysis of on-chain data, he believes the macro price bottom was established in the low-$6,000s. Woo did say, however, that there is an opportunity for a drop below that bottom, but noted that it would just be a blip in the grand scheme of things.<\/p>\n
Also, analyst Cryptokearecently noted that the worldwide Google Trends, well, trends for the search term Buy Bitcoin have recently hit a seven-month high the highest since June 2019 at 10.<\/p>\n
The latest Google Trends 10, Kea said, likely marks the start of a parabolic run-up that will bring prices much higher than the$14,000 high.<\/p>\n
He added that the long-term upwards trend for this metric, which is correlated with growth in the price of Bitcoin, is undeniable, pointing to a logarithmic corridor confirming that over time, more and more people want to buy the cryptocurrency.<\/p>\n
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