A widely followed analyst and trader thinks that the crypto market can copy its movements in 2018.
The trader, known by the alias Altcoin Sherpa, told 175,700 Twitter followers that this year could be a repeat of 2018 with a few differences in terms of infrastructure and diversity of digital assets. told.
“2022 could look very similar to 2018 given the amount of time we can spend around the decline. Still, I think the market is more mature these days than it used to be. Better overall market structure for trading + dexes [merkezi olmayan borsalar] + NFTs [değiştirilemez token’lar] + game sector + new usable chains.”
According to Altcoin Sherpa, Bitcoin (BTC) took 336 days to bottom in 2018 after reaching its high in 2017, while altcoins took longer.
The crypto analyst noted that nearly 189 days have passed since Bitcoin reached its all-time high in November 2021. The analyst evaluated this period from a different angle and stated that the period in question is about half of the bottom of the leading cryptocurrency in the 2018 bear season.
“BTC: One thing that sucked about 2018 was the time it took to reach the bottom; We are now halfway through.
If you count altcoin/BTC pairs, it was even longer. 2019 was terrible for most of them (alt/BTC pairs were more popular back then).”
The pseudonymous crypto analyst added that Bitcoin could gain over 15% from current levels before crashing.
“Something like this would have made sense to me; In the $35,000 – $40,000 retest, more people are going up and then the price is going down even more.”
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.