The expert said that he expects Bitcoin prices to recover to the level of $40,000

The cryptanalyst under the pseudonym Bluntz, who predicted the bearish trend of BTC in 2018, again predicts a likely decline in the price of bitcoin and other digital assets. The expert admitted that the total capitalization of the crypto market could fall by 15% before a massive increase.

“If you look at the total market capitalization, it gives a much clearer picture of what is happening in the market, much clearer than looking only at the behavior of bitcoin or ether. Judging by this indicator, I think that we should update the June lows. However, this will most likely be the last good opportunity to buy bitcoins in the coming years,” the analyst said.

If Bluntz’s forecast is confirmed, the capitalization of the crypto market may fall from $1 trillion to $880 billion. The expert built his scenario of events on the basis of Elliot Wave Theory, a complex technical analysis of asset behavior that takes into account the psychology of the crowd.

And the head of http://Exmo.me , Vladimir Cherpichnikov, noted that the main cryptocurrency began to grow again “after a month of stagnation.” At the same time, the volatility of bitcoin is still at low levels — the thirty-day volatility index for the coin is 1.52%, the analyst said.

“Sharp movements have not even begun. For short-term traders, this is a great opportunity to make money. At the moment, there are no abnormal sales volumes,” Cherpichnikov said.

According to him, the nearest key zone for the price of the main crypto coin will be $24,500–25,000.

“My plans for the third and fourth quarters have not changed, and I expect further growth in market capitalization, with the recovery of Bitcoin prices to the level of $40,000,” said cryptocurrency analyst Viktor Pershikov.

Now this is hindered by the lack of new liquidity, which is moving, for example, into securities that are currently showing record yields.

“Closer to October-November, I expect the situation on the market to improve, in particular, the possibility of reaching a plateau in tightening monetary policy in the US, which may be the reason for the resumption of growth in risky assets,” Pershikov summed up.