The query was made by analyst Willy Woo, of Adaptive Capital.
Only two respondents consider 30% or less probability that bitcoin has bottomed out already.
The winter experienced by bitcoin and the crypto market in general between 2018 and the beginning of 2019 has come to an end and the price has already reached bottom, consider various analysts of the crypto ecosystem, according to a survey conducted by Adaptive Capital analyst Willy Woo.
Through his Twitter account, Woo exposed this Monday, April 22, the results of his consultation to more than 15 crypto-market analysts , with a simple question: What are the odds that the price of bitcoin has already bottomed out?
Of seventeen analysts mentioned by Woo (including himself) 12 gave 69% or more of certainty that the price of bitcoin has already touched its lows in the middle of the bear market. If this assessment is confirmed, it would be expected that BTC will continue to rise as it has been doing in recent weeks.
Among the respondents, it is precisely the analyst of Adaptive Capital who gives the highest percentage: 95%. Followed by Jesse Powell, founder of Kraken ; and investment analyst Arjun Balaji, both with 90%.
Michael Novogratz of Galaxy Digital is among those who predict a positive future for the main cryptocurrency of the market; Erik Voorhees, founder of the Shapeshift exchange house; Nic Carter, founder of Coin Metrics; or Anthony Pompliano, co-founder of Morgan Creek Digital.
Less optimistic is shown, for example, the president of Lucid Investment, Tyler Jenks. This considered it unlikely that the end of winter is near the crypto-market, considering only a 20% probability that bitcoin has touched its lowest price. Investor Vinny Lingham also does not see the end of the bear market yet, and gave a 30% chance in response.
Following Willy Woo on Twitter, other analysts joined, which increased support for the thesis that the price of bitcoin had its worst moments.
However, Woo highlighted a particular statement. Although he declared a high probability that BTC would not lower its value again, Jesse Powell considered that "never" there is a fund, or a minimum . "Everything can reach 0", was his argument.
A report from Adamant Capital , published last week, is consistent with the favorable opinion reflected in the survey organized by Woo. The report in question argues that there are several reasons for optimism about the future of bitcoin. Adamant Capital stands out that there are signs of strong accumulation of bitcoin so far this year, with a period of low volatility , after the notorious fall of the cryptoactive last December.
Recall that after reaching record highs at the end of 2017 - when it almost reached USD 20,000 - BTC was rapidly losing its value throughout 2018, recording a 78% depreciation in the year. At the end of last year, BTC came to be just above USD 3,300, although this 2019 has grown 43%, until currently exceeding, at the time of editing this article, USD 5,417, in Live Coin Watch data .
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