Beware the Bears: John Bollinger’s Shocking Take on Bitcoin’s Future

Bitcoin, along with every other cryptocurrency, has been on a steep decline since November, 2024 and the market is expected to tank even more in the coming months. However, John Bollinger, the man behind Bollinger Bands tool, isn’t losing his faith yet. His message is concise and clear – don’t call cryptocurrency a bear market already! 

Post Link: https://x.com/bbands/status/1894475169638617161

Bollinger is right, too. This isn’t the first time Bitcoin has seen such a steep decline in the market. It has crashed down to $88,000 now. But looking back, BTC’s price (around $58,000) was even lower than this in September 2024. However, considering the Fear and Greed Index, which has dropped down to 26, it’s only natural for regular traders to be afraid. 

Source: Coin Market Cap 

What are the Bolinger Bands Saying? 

In his tweet, John Bollinger clearly asked for patience and told everyone to wait for the sustainable bottom for the price trend to appear. His tool, Bollinger Bands, has backed his views and showcases how Bitcoin’s pricing has stepped outside of the lower band. This is a classic of an asset being oversold for a prolonged period. 

Source: Trading View 

Historically, when prices of cryptocurrencies or stocks dip below the lower boundary, it usually signs the beginning of a reversal. While it’s not a guarantee, this purview has been successful in many cases. As it can be seen in the chart, the upper bands of Bitcoin’s price are sitting at USD 95,640 and USD 100,910 respectively. That’s almost 7.5% and 13.5% more than the recent low – which is not too insignificant. 

Bollinger’s perspective is to be patient and wait for a clearer picture instead of labeling this market as bearish. The level of market fear is too high, but technical indicators are clearly showing that there’s much more to consider regarding the market trends.