Popular YouTube cryptocurrency analyst, Alessio Rastani, yesterday posted a new vlog giving an update on his ‘wildcard’ scenario for Bitcoin. Had recent BTC price drops crushed it, and if so then what comes next?

What’s The Wildcard Scenario?

As Bitcoinist reported at the end of July, Rastani bucked the bullish trend at the time by proposing a contrarian ‘wildcard’ scenario for Bitcoin.

Bitcoin had just pulled back a little from its parabolic gains in the first part of the year, and many analysts felt that this was enough for the upward momentum to continue.

Rastani however, whilst not discounting this possibility, also saw the potential for a much deeper retracement. Bitcoin price could, he suggested, fall back below $6k, bringing mass investor capitulation which, ultimately, could provide fuel for a much stronger rally seeing new all-time highs in mid-2020

Capitulation Hasn’t Happened Yet

Bitcoin has certainly seen falls in price which many had failed to anticipate back in July, but has not thus far dropped as low as Rastani…

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Source: https://thebitcoinnews.com/bitcoin-wildcard-scenario-still-potentially-on-but-not-yet/