Analyst, who says that Bitcoin acts similar to 2018 Bear Market, Announces the Level that BTC Will Peak!

exceeding the psychological limit of $30,000 in the past week. bitcoin entering the new week, it fell to $ 29,900.

Investors BTCWhile we expect the rise in . to continue, good news came from K33 Research analyst Vetle Lunde.

According to the news of Coindesk, Vetle Lunde, who likens the current situation of BTC to the rise in the beginning of 2019, thinks that the price of Bitcoin may rise to $ 45,000 next month.

Referring to the declines Bitcoin experienced in 2022, the analyst said, BTC’He said that the big and sharp declines and subsequent strong recovery experienced by the company are similar to the 2018-2019 bear market.

“Bitcoin’s decline in 2022 and the subsequent recovery are similar in length and trajectory to the pattern seen in the 2018-19 bear market.

In both cycles, the bottoms lasted about 370 days.

Bitcoin fell 84% in the 2018 bear market to $3,100 in December.

Afterwards, BTC entered an uptrend and reached $13,800 in June 2019.

In this context, BTC, which is similar to the 2018-2019 bear market, will peak at $ 45,000 around May 20.

BTC‘s rise since the beginning of 2023 “a hated bullish rally” Pointing out that these rallies are characterized as pessimistic, the analyst stated that these rallies typically start when investors reach the highest level of pessimism.

“The hateful rally in June 2019 ended with a significant peak of $13,800 before BTC continued on its way with a 40-60% drop from its 2017 ATH.

The rally since early 2023 also has all the hallmarks of a hated rally.”

*Not investment advice.

For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price tracking right now by downloading our apps!


source site-4