Davincij15, with 7 years of experience in Bitcoin, predicts a continuation of the bearish trend for at least 2 years, and also advises some altcoins for buying.
One of his first videos “Bitcoin versus gold and silver” was published by Davincij15 back in 2011. It is worth noting that at that time it was much more difficult to make a similar forecast than in 2017 before a bull rally. He also warned about possible problems with MtGOX.
In his recent video, Davincij15 talks about a long bearish trend that should last at least 2 years. According to his forecast, in the next few months the market will reach the bottom and continue sideways movement for some time.
I tried to reflect what Davincij15 was talking about on the chart.
Personally, I do not fully agree with the point of view of Davincij15, and here’s why. First, if we look at the Bitcoin logarithmic chart from 2011, then its forecast looks absolutely logical. However, in mid-2020 we are waiting for a reduction in rewards for miners, which should lead to an increase in terms of the ratio of supply and demand. Secondly, during the 2014/2015 bubble, the market fundamentally looked completely different: 70% of the total trading volume took place on MtGOX. Now there is no such concentration on any stock exchange, respectively, any of them leaving the market will not lead to such destructive consequences. Thirdly, institutions are increasingly interested in the cryptocurrency market, develop appropriate financial instruments and work with legislators.
I believe that the market will be faster, as well as Bitcoin transactions. The market was in this position, including due to the low speed of transactions and a large load on the network, which caused a strong increase in commissions. However, this time for the next rally, the Lightning network is ready and developing. Thus, I believe that we will see a new price peak in 2020.
It is also interesting that in his recent interview with the MMCrypto channel, Davincij15 said that he was buying altcoins, affecting NEO, XLM