The crypto landscape is full of analysts who sprinkle price predictions on a daily basis. Where most people are cautiously bullish right now, the pseudonymous Smart Contracter is concerned. Smart Contracter is the same analyst who correctly predicted the bottom of Bitcoin in 2018.
Smart Contracter exits the market
In its latest message, Smart Contracter announces that it is temporarily withdrawing from the market. According to the pseudonymous analyst, based on the Elliot Wave Theory, Bitcoin could just fall towards a price of $22,000 from its current point. “That’s it, I’ll get out for a while and wait on the sidelines. It was a good start to the month, but I expect Bitcoin to fall back to $22,000 and who knows what that means for altcoins,” said Smart Contracter.
In any case, the analyst leaves nothing to be desired in terms of clarity. Where most analysts often make it an ambiguous story, “it can thaw or it can freeze,” Smart Contracter is very clear and steps out at this level. Furthermore, the analyst foresees a potential new muscle show of the US dollar, which also shows strength again.
Strong dollar coming?
The prices of almost all assets have been able to take a breather in recent weeks, while the US dollar continued to sink. Now the dollar seems to have some breath again and the world reserve currency may be starting a new upswing. That could spell bad weather for Bitcoin, as Bitcoin tends to move in the opposite direction to the US dollar.
Co-analyst Michaël van de Poppe, an analyst from the Netherlands, also foresees a scenario in which Bitcoin falls back to a price of $ 20,000. Slowly but surely some bearish sentiment is starting to rise again. For now, however, there is nothing we can do but sit back and see what the future brings us.