arkets and how this behavior can be broken down into a series of waves. According to Bluntz, this theory suggests that the crypto market will hit a bottom when the overall market capitalization drops to $880 billion. If Bluntz’s prediction turns out to be accurate, this could be the last good buying opportunity for crypto in the next few years. Investors should take this prediction into consideration before entering the market.

• Pseudonymous trader Bluntz predicts crypto market will hit a bottom when total market cap falls to $880 billion.
• Bluntz bases his prediction on Elliott Wave theory, which analyzes crowd psychology in waves.
• If the prediction plays out, this could be the last good buying opportunity for crypto in the next few years.

Trader Predicts Crypto Market Bottom

A pseudonymous trader named Bluntz is predicting that the entire crypto market could achieve a price floor this cycle. He believes that the total market capitalization of all cryptocurrencies needs to drop 15% before a significant bounce can occur. To analyze this potential, Bluntz is relying on the Elliott Wave theory which attempts to predict future prices by analyzing crowd psychology in waves.

Elliott Wave Theory

The Elliott Wave theory is an advanced technical analysis approach developed by Ralph Nelson Elliott and popularized during the 1930s. This method looks at how people behave during financial markets and attempts to identify patterns within them. By charting these patterns, analysts are able to make predictions about future price movements based on past data points.

June Lows Could Be Swept Before Bottom

Based off of his TOTAL chart analysis, Bluntz believes that June lows still need to be swept before calling bottoms but he also notes that it would probably be the last good buying opportunity of the next few years if it plays out as predicted. He believes that if a simple Elliott Wave model is applied to view the rise from lows as an impulse move and corrective wave from highs being 70-80% complete then it’s possible to see a drop down towards $880 billion in total market capitalization of all cryptocurrencies before we see any significant bounce occurring again.

Accurately Called 2018 Bear Market Bottom

It should be noted that Bluntz had already accurately called Bitcoin’s 2018 bear market bottom which makes his current outlook even more interesting for crypto enthusiasts and investors alike who are watching closely as we head into another potential downtrend phase within cryptocurrency markets over coming months and potentially years ahead too.

Last Good Buying Opportunity?

For those looking for an entry point into cryptocurrencies, this could potentially represent one of their last good buying opportunities over coming years so they’ll want to watch closely what happens with total market capitalization levels over coming weeks and months ahead as they may very well determine where we go from here with respect to future price movements within cryptocurrency markets overall.