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Bitcoin entering final stage of major bull trend, crypto analyst says

Scorpio

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Bitcoin entering final stage of major bull trend, crypto analyst says​

According to crypto analyst and trader Alessio Rastani, Bitcoin will finalize its upward trajectory toward $100,000 in the next few months.



Trader and cryptocurrency analyst Alessio Rastani believes Bitcoin (BTC) is entering the final stage of the current bull market, which will propel the leading cryptocurrency to a $100,000 price target.
To explain his prediction, Rastani cited the Elliott Wave Theory, which divides upward price trends into five waves. Rastani believes we have entered the final wave of a bull trend that started at the beginning of 2019 and that should see its top at some point next year.
“When this five-wave move completes, then I’m expecting a bear market,” he said.
Citing research by behavioral finance expert Jason Goepfert, Rastani predicted that the next Bitcoin bear market may coincide with a broader downtrend in traditional markets, which could come “in the next couple of years.” Rastani pointed out that Bitcoin would be negatively affected by a stock market correction, given that both stocks and BTC are risk-on assets.
“When there’s an appetite for risk, both markets go up. But when there’s low appetite, when there’s little appetite for risk, they go down.”
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#48Fan

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I think 100k is very conservative. But, we shall see.
 

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#48

there are a whole lot of people who shouldn't be allowed to play with elliot wave

the absolute dumbest bunch of technicians I have ever seen over the years, as they don't understand it properly, and do not appreciate the 'artistry' involved,

constantly looking backwards are reworking their wave counts

but having said that, one thing quite important is the talk of 'risk' capital, otherwise known as dough chasing yield.

and it very well could be true that if sm's take a dive, crypts go with them

when a real selloff comes, everything gets sold including the baby
 

ds_mustang

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The crypto space has been traumatized by the massive crypto bear market of 2018-2020. Bitcoin retraced somewhere around 85% and ETH retraced a portfolio crushing 94%. The damage done to the crypto community psych was tremendous. These days most everyone is obsessed with taking profits and avoiding the next bear. As a result I think the bull will extend longer than most people expect. I wouldn't pay attention to time targets, I'd watch for signs of FOMO and caution being thrown to the wind. When most people are sure the market will never correct, that's when it will finally correct. But right now there is still a lot of fear from the last bear. The article posted above is a perfect example with its focus on the next bear.
 

#48Fan

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#48

there are a whole lot of people who shouldn't be allowed to play with elliot wave

the absolute dumbest bunch of technicians I have ever seen over the years, as they don't understand it properly, and do not appreciate the 'artistry' involved,

constantly looking backwards are reworking their wave counts

but having said that, one thing quite important is the talk of 'risk' capital, otherwise known as dough chasing yield.

and it very well could be true that if sm's take a dive, crypts go with them

when a real selloff comes, everything gets sold including the baby
I agree with you. If (when) the markets tank, everything is going to sell off. It's going to be deflation-pocolypse. But I believe it'll be pm's and cryptos that will be leading the charge back to the top.