Investors and analysts have historically left the year 2022 behind. cryptocurrencies It also wants to leave it behind in terms of its negative impact on prices.
In this context, starting the year 2023 with the introduction Bitcoin (BTC) and altcoinIt was a matter of curiosity whether the rise in the prices was a bear market rally or a rally that was a real bull herald.
Bitcoin investor talking about current bullish Chris Burniske, former analyst at Ark Investbelieves that the rally is not just a short bear market rally.
Sharing on Twitter, Burniske compared the current market with the market conditions in 2029.
According to the well-known analyst, even if there is no long-term reversal in the market at the moment, the prevailing trend today could bring solid gains to investors.
“I don’t think this rally was just a short bear market rally.
As in 2019, a 4x increase in Bitcoin and Ethereum in one year can now be repeated.
It’s painful not to buy now and sit and wait. I prefer to watch the trend and buy more when there is a significant correction.”
Lots of “muhhhh bear mkt rally” folks, often alluding to 2019.
in 2019 $BTC & $ETH more than 4x’d intra-year, with some long tails outperforming.
Painful to be on the sidelines for a move like that. I’d prefer to enjoy the ride and buy more if we significantly retrace later.
— Chris Burniske (@cburniske) January 15, 2023
Continuing its sideways movements below $19,000 after the bankruptcy of FTX bitcoin With the start of the new year, he saw over $21,000 in the rally he experienced. BTC Although it has lost some of its gains, it is trading at $20,850 at the time of writing.
The second-largest cryptocurrency, which pinned about $ 1,600 in the rally Ethereum (ETH) At the time of writing, it continues to be traded at $ 1540.
*Not investment advice.
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