Turr Demeester is an economist and investor mainly known for his crypto analysis statements. A new report by Adamant Capital suggests that the smart money represented by Bitcoin whales is in the accumulation phase. The company consider it the last phase of the bear market and suggest its value investors that it is the right time to invest in the Bitcoin. Analyst strongly believe that bad phase has gone and Bitcoin and cryptocurrency are going to solidify their grip, the Bitcoin is heading for a bigger leap. The analysis suggests:
“During this accumulation phase, we expect for Bitcoin to trade in a range of $3,000 to $6,500 until the new bull market permanently cements the denarian cryptocurrency as a multi-trillion dollar asset class.” Now, at 75% below its 2017 all-time high, we believe the current bear market represents an exceptional opportunity for value investors. The recent price range from $4000 to $5000 hopefully to improve in a few months. According to the report, Google trends show that investor is seemed disinterested as searches for crypto and Bitcoin dropped to a level similar to what was seen in March 2017 when the price was around $1000.
The report also highlights the relatively low levels of volatility seen in the Bitcoin price. This is an indicator or less involvement from retail investors. Long term Bitcoin investors are coming back to invest in hopes that the price would stop falling and eventually rebound. The market position has improved in 2019, and there are parallels that can be drawn with previous market fall. According to Adamant, this is simply a continuation of Bitcoin’s steep trend of high and low volatility. Based on the historic crypto trend, this could be the undervalued territory. This doesn’t mean the Bitcoin won’t go down again, but the dynamics are shifting.