Bob Loukas is a market analyst with over 25 years of market trading experience with an expertise in market cycles. This makes him a person of particular interest for the purpose of indicating a change from our current bear to eventual bull market. He has drawn attention to a pattern in the bitcoin charts of a 4-year cycle consisting of a 3 year uptrend, followed by a one year downtrend. He states that he is 98% confidant that bitcoin has already bottomed and has already started the next 4-year cycle. Though he does not believe we will hit all time highs at any point this year, he believes that this new cycle could take us to sky high levels. His theory has most of the gains happening in the last year of the cycle, so according to his charting we have a bit of time for personal accumulation. He does however state that this 2021 bull market top will be something we have not seen from bitcoin before, consisting of a “massive blow off top” with a target of $200,000, perhaps even eclipsing $300,000.
My personal investing belief is to find opposing opinions in order to decipher a well researched course of action. One notably more bearish analyst is Tone Vays. An unapologetic bitcoin maximist and TD sequential system lover, Tone knows his stuff. He’s a guy that you either hate or love, with me siding with the latter of that dichotomy. In the cryposcam universe of 2017 where seemingly everyone was drinking the cool-aid and disparaging anyone who didn’t agree with positive sentiment, Tone was a voice of reason and caution. His no-nonsense approach is refreshing, as is his reluctance to hop on the bull-train. He currently believes the leading cryptocurrency is in a no trade zone. He does however state that the daily chart is bullish and a break above $5350 would solidify the bull signals.
I personally love listening to negative sentiment when it comes with the right intentions, which I believe is the case with Tone. However it is also important to consider all potential possibilities. Bob Loukas and Tone both agree that the bottom is somewhat near, with Tone’s potential absolute bottom in the $1300 range. When it comes down to it, both men are extremely fundamentally bullish on bitcoin and see a great future. The difficult question they attempt to tackle is the age old question of “when?” If you don’t want to put your eggs in either basket, it may be wise to start dollar cost averaging. Because I doubt many investors will be kicking themselves for buying $1,000 above the absolute bottom if the price is $100,000+ in a few years time.