Analyst Who Predicted 2019’s Bitcoin Dip Warns About Final Plunge

Analyst who correctly called the beginning of Bitcoin‘s major correction last year warns that the traders who are waiting to catch the bottom of another BTC dip may miss the boat.

The trader known as Dave the Wave tells his 27,000 subscribers on Twitter that he expects one last retracement for Bitcoin down to $6,400 support level.

After the final dip, the analyst anticipates that Bitcoin will enter a parabolic bull run (the same opinion was expressed earlier by Robert Kiyosaki, according to the report shared by CryptoTheNews on April 19) which will send the world’s most popular cryptocurrency to about $110,000 at the end of 2022.

But the analyst notes that waiting until Bitcoin hits the bottom is not the best idea. Instead, he suggests buying Bitcoin in tranches before it takes off.

“Those that imagine they can buy BTC at the ideal buying price [at the bottom of the next and final dip] are fooling themselves. The best policy is to average in while price is in the ‘buy zone’… something I’ve been saying since the bottom of 3K over a year back.”

With the global economy in arrears, Dave says investors should forget about the stock-to-flow model, which measures the scarcity of Bitcoin in relation to its value.

He maintains that people should also forget that the US dollar is at risk of hyperinflation. From here on out, he states that the question is not about supply, but just how much demand there is for Bitcoin.