Bitcoin did not fare well in 2018. Over the course of that year, the cryptocurrency plunged by dozens of percent from prices well above $10,000 to as low as $3,150 by December, falling as a “Crypto Winter” formed.<\/p>\n
The thing is, few expected for BTC to retrace that hard, with many in the middle of 2018 asserting that $6,000 was going to be the ultimate bottom for the then-embattled asset.<\/p>\n
But, in June 2018, a trader going by “SmartContracter” said he is \u201ccalling a bottom at exactly $3,200, with a $200 leeway on either side.\u201d As aforementioned, Bitcoin bottomed almost exactly where he expected.<\/p>\n
Considering that crazy track record, it should come as no surprise that when he speaks, people listen.<\/p>\n
On Wednesday morning, SmartContracter noted that Litecoin was forming a bearish pattern, with the asset forming a “bearish four-hour pin bar at the 0.618 Fibonacci Retracement,” before adding that the cryptocurrency was clearly on track to see a strong bearish reversal.<\/p>\n
Hours later, he was proven right when the market started moving lower until the proverbial dam broke near the end of the day, sending LTC, Bitcoin<\/a>, and other cryptocurrencies off a proverbial cliff.<\/a> Prices for the assets dropped as much as 10% in a few minutes’ time.<\/p>\n In short, once again, SmartContracter accurately called a move in the ever-volatile and hard-to-track Bitcoin market.<\/p>\n annnnnnd there it is, defo a much more aggressive dump then i was expecting, but very glad i took profits on everything this morning \ud83e\udd37\u200d\u2640\ufe0f pic.twitter.com\/yavNkFbVz5<\/a><\/p>\n — Bluntz (@Bluntz_Capital) February 19, 2020<\/a><\/p><\/blockquote>\n\n