It is difficult to accurately predict the price trend of highly volatile assets like cryptocurrencies. One could attempt at least to predict a near-possible scenario based on the cryptocurrency’s valuation based on available financial strategies. It is – though – not clear which theory Joseph Lubin, a prominent blockchain pioneer, applied to the bitcoin market. But what’s evident is that his prediction about the cryptocurrency’s low came to be right.
Lubin, who founded blockchain software firm ConsenSys, on December 21, 2018, called a bottom in bitcoin and the rest of the cryptocurrency market. The prediction-cum-declaration came a week after the bitcoin price had settled 2018’s low at $3,128.89 on San Francisco-based exchange, Coinbase. It also appeared on the date when the cryptocurrency had corrected upwards by 33.40 percent, signaling a strong rebound.