Crypto Trader Who Predicted Bitcoin’s Bear Market Bottom Foresees $DOGE Price Rally

    A high-profile trader going by Smart Contracter on the microblogging platform Twitter has foreseen a potential Dogecoin ($DOGE) price surge, predicting it could hit a $0.41 high after moving upward.

    In a tweet shared with his over 150,000 followers, Smart Contracter said DOGE was “ironically looking primed and breaking a key downtrend,” and even questioned whether the season of meme cryptoassets moving upward was back.

    Source: Smart Contracter on Twitter

    According to CryptoCompare data, Dogecoin is currently trading around $0.25 after moving up 5% in the last 24-hour period.  The cryptocurrency has been recovering from a $0.16 low it saw after hitting a $0.74 all-time high.

    As CryptoGlobe reported, Dogecoin’s price exploded earlier this year after traders tried to get it to hit $1, and kept on pumping with support from various celebrities, including Tesla CEO Elon Musk. A panel of experts surveyed by Finder has predicted DOGE could hit $1.2 by 2025, while expecting it to close this year at about $0.42.

    On Twitter, Smart Contracter also predicted that indexing protocol The Graph (GRT) could turn bullish after enduring a long accumulation phase. The trader is well-known for, in June 2018, accurately predicting the bear market bottom of $3,200 in December of that year. At the time, the price of BTC had been dropping since December 2017, when it hit a then all-time high near $20,000.

    In June of this year, while replying to another user asking what would happen next in the markets, the pseudonymous analyst revealed he was “leaning towards 28k then new ATH.” The price of BTC, it’s worth noting, dropping to $29,000 before recovering to its current level at $45,000.

    Similarly, Bloomberg analyst Mike McGlone has recently revealed he believes both Bitcoin and Ethereum are “discounted bull markets” that solidified their support bases in June and July, and could resume their upward price trajectories in the near future, with $100,000 being in play for BTC.

    The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

    Featured image via Unsplash

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