The latest analysis coming from Adamant Capital reports that a new Bitcoin bull run will be bringing the most important digital asset’s cap to trillions.
Massive bulls are reportedly on the way
The analysis says that whales are gathering BTC and the price history for the digital asset is mirroring unique parallels to the 2014-2015 bear market which preceded BTC’s massive rise to almost $20k.
“We pride ourselves in having published our 2012 and 2015 Bitcoin reports during what we perceived as periods of significant undervaluation. Each report was issued when Bitcoin was down more than 80% from all-time highs. Now, at 75% down below its 2017 all-time high, we believe the current bear market represents an exceptional opportunity for value investors.”
The analysis continues and says “During this accumulation phase, we expect for Bitcoin to trade in a range of $3,000 to $6,000.”
This outlook for BTC is similar to the one of Peter Brandt, the veteran technical trader.
He called BTC’s crash back in January 2018, and he now said that BTC might be on track to begin a new parabolic bull run.
The Daily Hodl reports that a tech analyst at Swiss bank UBS says that BTC and crypto bulls “should consider what happens after the bubble – not every bubble that bursts recovers the old highs.”
Business Insider reported that Kevin Dennean warns it traditionally takes many years for assets to recover after the bubble bursts.
“We’re struck by how long it took other asset bubbles to recover their peak levels (as long as 22 years for the Dow Jones Industrials) and how pedestrian the annualized returns from trough to the recovery often are.”
Bitcoin was recently in the spotlight when during an interview, Shapeshift’s Erik Vorhees said that BTC is not like centralized digital money and instead, it’s free to use, accessible, borderless and also uncensorable.