Here’s another classic from the EWI forecasting vault.
In early 2020, against the backdrop of the COVID-19 pandemic, financial markets were experiencing extraordinary volatility. Bitcoin was still recovering from its 2018 crash, and sentiment toward cryptocurrencies remained deeply pessimistic. Many were declaring that Bitcoin’s best days were behind it.
Our analysts had a different view.
In April 2020, our Global Market Perspective stated:
“Bitcoin (BTC) is in the very early stages of a wave (3) rally… keep the focus on higher.”
What happened next:
Bitcoin didn’t just recover — it launched into one of the strongest bull runs in its history.
From around $7,000 in April 2020, Bitcoin rocketed to nearly $65,000 by April 2021 — an 830% surge.
After that April peak, Bitcoin was cut in half, falling below $29,000 by late June 2021. Many believed the bull market was over.
But our wave analysis pointed to a renewed advance.
Bitcoin resumed its rally and ultimately reached a record high near $69,000 in November 2021, completing the larger wave structure our analysts had been tracking.
Throughout the turbulent climb — and the correction along the way — our Crypto Pro Service provided readers with real-time guidance. As shown in the chart below, our analysts identified key turns as they formed:
The result?
Subscribers had a roadmap for navigating one of Bitcoin’s most dramatic and volatile periods — from the depths of crypto pessimism to a new all-time high.
Are you reading us now?
Subscribe to our Crypto Pro Service to get intraday and daily forecasts for 12+ of the biggest cryptocurrencies, with Elliott wave updates live as the markets trade. For our longer-term outlook for cryptos, plus analysis and forecasts for 50+ of the world’s most-traded markets, check out our Global Market Perspective.
