The cryptocurrency industry is not as “green” as it used to be since the leading cryptocurrency Bitcoin suffered a sharp drop from $69,000. While the decline in the crypto money industry continues at full speed, a famous crypto analyst stated that this may soon break down.
Bitcoin Pending Rise
Famous crypto analyst Light spoke about the selling pressure that brought the BTC price up to $ 42,000 in a statement on Twitter and his own channel. According to Light’s views, many investors started selling after the all-time record. But Light thinks the ascent doesn’t stop there:
People are still totally optimistic and we can expect it to continue to rise even as the price drops.”
In his statement on Twitter, the analyst emphasized that there is a serious funding and monetary abundance after 2021, which will again light all kinds of bullish torches for BTC.
Stating that the liquidity for BTC has decreased and the transactions of those who use excessive leverage have been cleared, the analyst now expects a rise. Stating that the sales-oriented data broke a record when looking at open positions, the analyst reminded that the big players can target $ 60,000 again by buying from the bottom.
Reminding that Asian markets continue to sell and that with the coming new year, this will stop and purchases will increase, the analyst expects a big rally. The analyst, who did not give a clear target, is almost certain that there will be a positive movement in the markets with the Chinese New Year and the New Year holiday in general.