Bitcoin To Spend 2020 In Accumulation Mode, Ideal Buy Zone

Tony "The Bull" Severino

5 years ago

3 mins read

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While most of the crypto analysts across the market spent the bulk of 2019 overly optimistic and bullish, expecting Bitcoin’s bull run to have already commenced, one crypto analyst has remained cautious, waiting for Bitcoin’s parabolic rally to cool off and come back down to the “buy zone.”

That “buy zone” has been hit, although the analyst expects the leading cryptocurrency by market cap to remain within that buy zone for the bulk of 2020, putting Bitcoin in full “accumulation mode.”

Crypto Analyst: Bitcoin Will Remain in Buy Zone Throughout 2020

The crypto market is a fast-paced, wild-west style market that never sleeps or closes, and is filled with outspoken and often eccentric individuals acting as analysts, hoping to make predictions about future market movements to both profit and grow their followings.

Many of these short-sighted, fly-by-night analysts focus on short term swing trades only, giving them the appearance of being experts in space. However, they often fail to look at the bigger picture, or fail to take the approach of a long-term investor.

One prominent crypto analyst who almost solely focuses on long-term plays on assets like Bitcoin or precious metals, and even altcoins, has long shared charts that targeted the current price levels as an ideal buy zone. Some of the charts calling for Bitcoin to trade within this level were shared long before the crypto asset ever topped out in late June and early July.

BTC longer term.

Predicting price next year in the buy zone, which sets up nicely for the next parabolic run going forward. Accumulation mode. pic.twitter.com/feO1Lk7kh1

— dave the wave🌊🌓 (@davthewave) December 4, 2019

Buying BTC In the Zone Could Result in Major Financial Upside

The analyst’s theories are based on Bitcoin’s long-term logarithmic growth curve, which the analyst claims serves as ongoing support for the crypto asset, which typically returns back to the curved support line, acting as at the asset’s “mean.”

After Bitcoin’s 2019 parabolic rally got overheated a little too fast, the analyst has long expected a return to mean that would take Bitcoin back down to $6,700.

Now that Bitcoin price has reached the analyst’s targets for a low, he claims that while the first-ever cryptocurrency’s price may drop lower than current levels, it won’t stay there very long and instead will trade within this “buy zone” range for the majority of 2020, putting Bitcoin in “accumulation mode” according tot he analyst.

Bitcoin was accumulated very briefly at the start of 2019, but it resulted in a breakout and parabolic rally into an echo bubble. And while some are still holding out hope for Bitcoin to reach $55,000 by its halving according to the highly cited stock-to-flow model, staying within the buy zone for nearly a year before the bull market begins could be a financial opportunity of a lifetime.

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.