That was after being proven very wrong in 2018. Last summer, Arthur Hayes was predicting $50K by the end of the year!

It just goes to show you, almost everyone gets caught in the hype and becomes unwilling to turn bearish after a bubble. Like most people, I was also the same way in early 2018, refusing to switch gears to bearish for too long.

Now we're heading for the opposite end of the pendulum. After this bull trap tops and we approach the December bottom again, we're going to see people really start giving up on Bitcoin. And the bears are going to keep aiming lower and lower. And it's going to mark the bottom just like it did in 2015.

I do think we'll be in and out of the $3,000s for most of the year. But I'm confident we're approaching the tail end of this bear market.