Analyst Who Predicted Bitcoin’s V-Bounce at $3,700 Thinks This Comes Next

  • Bitcoin has stagnated after surging as high as $11,500 on Monday. As of this article’s writing, the asset trades for $10,950 — just under 5% below the local high.
  • Analysts remain optimistic about BTC, arguing that the asset is poised to rally further in the days ahead.
  • One trader is predicting that Bitcoin could hit $17,000 in the weeks and months ahead.
  • This is the same trader that has made historically accurate calls. For instance, the trader predicted BTC would see a V-shaped reversal in March, then it did.
  • BTC’s price action may be somewhat dependent on that of gold, which is has been tracking over recent weeks and months.

Bitcoin Could Hit $17,000 in the Months Ahead: Trader

Bitcoin is on track to surge towards $17,000 by the end of the year, according to a top trader. The trader in question is one who predicted literal hours after Bitcoin crashed to $3,000 in March that a V-shaped reversal would be seen.

As to why he is predicting $17,000, the trader says that this will satisfy an ABC Elliot Wave pattern.

Elliot Wave is a type of technical analysis that predicts markets move in predictable waves that are “related to persistent changes in investor sentiment and psychology.”

“$BTC giving the cleanest breakout-retest setup I have seen in a very long time whilst each corrective wave since 4K has been vertical re-accumulation This has all characteristics for a strongly extended fifth – aside from BTC generally loving extended fifths.”


BTC price analysis by Ethereum Jack (@BTC_JackSparrow on Twitter). Chart from

This latest analysis comes shortly after he said that the price of the leading crypto could hit $20,000 in 2020:

“A fair amount of ‘19/20 Bitcoin accumulation is happening by whales who bought the alt bottom My $BTC best guess for remainder of year: Parabolic 17K rally as alts hit distribution range followed by market wide shakeout, retest of 10.5K and grind to ATH Result: uber rektness.”

Also backing this optimism is a fractal of the Nasdaq from the 2008 Great Recession onward. The fractal suggests that BTC will trade at $20,000 by the end of the year.

Bloomberg Analyst Thinks BTC Will Sustain Higher Prices

Mike McGlone, a senior commodity analyst at Bloomberg Intelligence, says that Bitcoin could move higher:

“Bitcoin is more likely to sustain higher levels than the Nasdaq due to increasing demand vs. declining supply and reduced volatility vs. the Nasdaq. Central-bank liquidity and fiscal stimulus may limit equity downside, but it’s fuel for bull markets in the quasi-currencies….”

McGlone recently argued that BTC will reach $20,000 by the end of 2020, citing the block reward halving. That’s a 80% rally from the current price to the end of the year.

Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from Analyst Who Predicted Bitcoin's V-Bounce at $3,700 Thinks This Comes Next

Our AI articles are NOT written by a real person and are provided for entertainment only. They may contain content which is inaccurate but we are hoping our AI bot, Rose, will become better over time. The AI category is the ONLY section of that has zero human input.

In 2021 TradeHost traded 7,937 Betfair UK, IE, US & AU horse racing and greyhound markets.

2022 saw TradeHost become even more profitable with 22,698 Betfair markets traded.

All trades and bets were streamed live on JuiceStorm TV which was was watched by 124,209 traders in 2022.

All results for the 30,635 Betfair markets traded are here and the charts are here.

Top 100 Comments on

Racing Traders has over 20,000 registered members and more join every day. Find out why with a free trial.

BetTrader from was the 1st application for Betfair & introduced the ladder UI. Invest £99 in yourself with a JuiceStorm EXCLUSIVE crypto only offer for a BetTrader lifetime license and no further payments.

Successful Betfair Traders have the simplest Betfair Trading systems. The difference is their selection process, experience and execution level. Get that difference for yourself with automated trading by TradeHost.
Leave A Reply
Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each JuiceStorm member is allowed two daily comments. Use them wisely.
  • Comments must be limited to the number of words displayed above the comment box.
  • Use branded capitalisation, eg. JuiceStorm, TradeHost, BetTrader, etc or John will get upset.
  • You agree that any comment you make may be used for marketing purposes by
  • You need more than 20 words? Click here for the largest Telegram community for Betfair Traders.