BTC Is Cheap Until April, $3,000 Price Won’t Be Seen Again: Trader

According to one trader who is featured in this post on our DC Forecasts Bitcoin news site, we may living in time when it is ideal to buy and stock up with as many Bitcoins as possible – mostly because we won’t ever see the price of BTC trading around $3,000 again.

Even though Bitcoin is down by 80% from its all time high, a large number of investors are still very cautious and store Bitcoin in low price ranges. What’s interesting is the fact that the Bitcoin shorts achieved a 3-week high earlier this week. This demonstrated a lack of confidence of investors in the market in the near-term performance of Bitcoin.

However, the trader that is known as “Galaxy” thinks that Bitcoin at $3,000 is a rare opportunity that does not come again in the future. According to him, since its inception, Bitcoin has established a trend of reaching a new all-time high. By enduring a steep decline in price, accumulating funds and recovering to a new high, it continued the circle.

Based on this circle, “Galaxy” believes that investors will never see Bitcoin at $3,000 once again after April – and that the dominant cryptocurrency is on a good path to recovering in 1 to 2 months.

As he said:

Although prices may appear to be random (to some), they actually create repeating patterns and trends.

Observing this pattern makes April the last month of cheap BTC. And now, of course it will be cheap multiple times in the future, but never $3,000 cheap.

Galaxy is not the first trader that is supporting BTC and its price movement. There are several of them who always foresee Bitcoin replicating its price movement in November, when it experienced the three months of stability and fell by around 50% in the following month (of December).

“Unless we break new local highs ($4,300), trend is still bearish. Expecting at least a dump back down to the green support level, maybe lower,” another trader said.

So, if BTC fails to break into the $4,000 region and surpass the $4,200 and $4,300 resistance levels, analysts believe that it may retest the lows at $3,300 with $3,122 as a mere possibility.