K33 Research analyst Vetle Lunde suggested that if the historical cycle repeats, Bitcoin (BTC) will reach $ 45 thousand in May and peak.
Blockchain data analysis platform K33 Research (formerly Arcane Research) senior analyst Vetle Lunde In an investor-specific report, Bitcoin’s May per month Local top with 45 thousand dollars He said he could reach. According to Lunde, the serious decline in 2022 and the rapid recovery that followed are in terms of process and course. 2018-19 bear market and it looks like the rally that followed.
Thinking that the bottom level lasted for 370 days in the 2018 bear market, similar to the current cycle, so the bottom left behind in the current cycle, the analyst believes that if history repeats, 45 thousand dollars can be priced in 1 month.
Looking at the chart, Lunde argues that the 2018 bear market rally is similar to the upward performance of Bitcoin since January. 20 May around 45 thousand dollars He stated that the summit can be seen with:
In both cycles, the bottoms lasted about 370 days. And there was a 60% drop from peak after 510 days in both cycles. The 2018 bear market rally peaked on June 29, 2019, 556 days after the 2017 bull, 34% below the 2017 high. Although it is not possible for history to repeat itself, Bitcoin will make a local peak with $ 45,000 around May 20 if the fractal continues.