Analyst Who Called Bitcoin November Top, Sees Buying Opportunities

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Last Updated on 7 February 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Back in March of 2020, the man who called the Bitcoin bottom was none other than NSA whistleblower turned author Edward Snowden. On 13 March he stated:

This is the first time in a while I’ve felt like buying bitcoin. That drop was too much panic and too little reason.

Since then, crypto enthusiasts have been passionately following Snowden for any indication of how he felt about the Bitcoin price, but the man has since let little be known about his investments.

The analyst being pointed to for having called the November 2021 top of Bitcoin is Yves Lamoureux, president of macroeconomic research firm Lamoureux & Co. He’s also known for having correctly called stock market tops before so has some experience already.

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Staples centre renamed

On 18 November Lamoureaux said that the Staples centre being renamed to be called Crypto.com was a clear sign of the top being in.

He was correct in spotting that bitcoin top indeed. The world’s biggest cryptocurrency had hit a record high above $68,000 on the 10th of that month. Ever since then, it’s been going down in a straight line, with a low of some $30,000 in January as the bottom thus far for 2022.

Lamoureux explained in an interview a few days ago:

I think that with the amount of damage done in terms of what I’m looking at, in terms of sectors to invest in high growth, high growth technology, stuff that has been decimated so much, I’m calling the bottom.

This week or last week we started to buy, now we’re buying things that I don’t expect to go any lower anymore. I mean they’ve been down 50%, 60%, 70%. So what do you expect? Not more damage.

According to the forecaster, the bottom is in because everyone who could have been selling will have done it by now.

Everybody knows, ‘Oh, they’re going to raise rates, ‘Oh, maybe we have more COVID,’ or ‘Oh, maybe we have a war’. Well at some point, anybody who had worried was selling, they sold and they have nothing else to sell.

We’ll be sure to follow up on this forecast then.

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