The Flow Horse, an analyst who is in an important position in the cryptocurrency market and is followed closely, makes a remarkable warning that the possibility of the market entering a long correction period is increasing. Following the widespread rises in crypto assets, the analyst states that the enthusiasm in the market should calm down a little more and the possibility of entering a correction period increases.
There has been a noticeable increase in the crypto market in the last few weeks, which has increased the excitement of many investors. However, as The Flow Horse points out, such rapid rises are often followed by a period of correction.
According to the analyst, there is likely to be another upward move before reaching a temporary peak, especially for leading cryptocurrencies such as Bitcoin (BTC). However, after this point, the market is expected to enter a correction and consolidation process.
Based on his analysis, The Flow Horse says: “I think we are pretty close to a peak of the right length. Of course, it’s months away, not years. It may be 1 month before or after the halving. It will form a higher low (a new low higher than the previous low) and consolidate for a while. There are a lot of scatters and there are a lot of symbols. It also wouldn’t help the risk if NVDA (Nvidia) came out on top in the conference a bit, which wouldn’t be surprising either. “My prediction is one to two months of consolidation after a break above $70,000.”
Moreover, the analyst said that before a broad correction, a certain event could cause a rally for some altcoins. allegation It does. According to The Flow Horse, the Nvidia GTC Global Conference, an AI-focused event, is expected to be held on March 18, which could lead to a major upswing in the crypto industry.
According to the analyst, the Nvidia conference is just around the corner and this event has attracted many investors focusing on altcoin projects and technologies related to artificial intelligence. The analyst specifically noted that meme coins are the hottest area of meme/AI concepts right now. However, the fact that people turn to this event at the last minute and tend to make easy event-driven transactions can change things. Therefore, an important period may be approaching for AI-focused coins.
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