The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
This summary text is fully AI-generated and may therefore contain errors or be incomplete.
This summary text is fully AI-generated and may therefore contain errors or be incomplete.
A trader who accurately predicted the bottom of Bitcoin’s bear market in 2018 is now anticipating a Santa Claus rally for the cryptocurrency. The trader, known as Bluntz, believes that Bitcoin’s consolidation period below $40,000 in late October to November has set the stage for a strong rally this month. Bluntz expects Bitcoin to reach a minimum of $46,000 and potentially surge as high as $65,000 in the first quarter of 2024. Bluntz follows the Elliott Wave theory, which suggests that Bitcoin is currently in wave three, the strongest and longest upward move. At the time of writing, Bitcoin is trading at $44,048, up nearly 5% in the past day.