Investor Tuur Demeester Reveals When Bitcoin Is Likely to Start Another Parabolic Price Rally

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Mon, 05/18/2020 - 19:11
Alex Dovbnya

Tuur Demeester believes that Bitcoin is about to end a re-accumulation phase that will be followed by another bull run

Cover image via twitter.com
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Cryptocurrency investor Tuur Demeester believes that Bitcoin might be in for another parabolic move.

In a new tweet, Demeester claims that the world’s leading cryptocurrency is about to finish its re-accumulation phase, which he expects to be followed by a huge breakout. 

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Yet another golden cross 

As reported by U.Today, Demeester claimed that Bitcoin’s parabolic uptrend was intact in November 2019 despite a collapse below $7,000.  

He also wasn’t deterred by ‘Bloody Thursday’ of March 12 when BTC flash-crashed to its 2020 low of roughly $3,800.  

BTC has fully recovered since then, and it’s now on track to print another golden cross on the daily chart. 

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Holding Bitcoin until 2040

While the investor usually shies away from making precise price predictions, there is no doubt that he’s incredibly bullish on Bitcoin.

As reported by U.Today, he claimed that it would constitute 33 percent of his ‘Permanent Portfolio 2.0’ until 2040, which underscores his unwavering confidence in the world’s leading cryptocurrency.

Demeester expects Bitcoin to perform well in tandem with Bitcoin, predicting the ‘melt-up’ of these two assets.

Recently, he also opened that the U.S. dollar would strengthen during an upcoming fiat currency bear market. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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