After reaching ATH in 2017, Bitcoin (BTC) started to fall until approaching the dangerous limit close to 3k, making it one of the most dramatic falls in history, however at the beginning of 2019 Bitcoin remained stable in the 3.5k zone, which led many to think the bearish market could be losing strength (not speaking of a bull run yet).
However, Just a few hours ago, something completely unexpected (and difficult to explain from the point of view of technical analysis) happened. If the community didn’t have access to real-time charts, reading in the news that Bitcoin went up to almost 5k would have seemed like an obvious “April fools” joke, but sometimes reality surpasses fantasy: In 1 hour, BTC went from 4k to 5k for no apparent reason (at least this writer can’t find an explanation).
Being as outspoken as he is, Mr. McAfee tweeted about this event, but the well-known businessman did not opt for caution: he went a bit further and just after the confusion generated by Aprils fool’s day, and in the middle of a market where analysts and enthusiasts were trying to understand what was happening, the controversial cybersecurity expert told his followers that “the market has now turned”.
This tweet seems to be a sort of “told ya,” especially in a world where Bitcoin can surprise us in minutes and make us believe that we live an eternal April fools day. Of course, there is some reality in that joke…
For days now, many analysts have begun to speculate that the increase in the volume of altcoins trading could be a sign that the alt season had started, yet a few still dare to recommend the accumulation of Bitcoins as a trading strategy.
Generally, BTC tends to react with less volatility than the rest of the altcoins; however, it is unquestionable that when it comes to technicals, the performance of BTC is the one that marks the trend that many alts reflect.
Despite being a controversial character, no one can deny that this time, jokingly or seriously, McAfee was right… And maybe in 2020, we’ll see a McAfee with his penis still attached to his body, telling the world “I told ya” once again.