Attention! The Analyst Who Knows the Big Collapse in Bitcoin Has Given a Date for the Bull Run!
While Bitcoin (BTC) continues to count in place, a leading analyst explained the necessary condition for the resumption of the bull cycle.
Scenario 2: How Does the Bull Cycle Start?
An experienced analyst says that if Bitcoin reaches certain price targets, it can guarantee the beginning of a new bull market. In a new strategy session, Tone Vays reveals two scenarios to his 123,000 YouTube subscribers that show how the bear market could end. According to Vays, BTC bulls have some criteria for starting a new bull cycle. First of all, Bitcoin should rise to the highest level of November again. “I would like to see a move just below $23,000,” the analyst said in a statement. If we are rejected at this level, we need to keep the $19,000. After consolidation here, BTC should exceed $ 23,000. If this happens, 95% to 98% of the bull market can definitely start. If this level is not reached, it is almost impossible for the bull market to start.” he used his statements.
The analyst, who correctly knew about the collapse of BTC in 2018, is also open to the idea that Bitcoin could witness another sell-off event. However, he underlines that after the capitulation takes place, BTC will probably immediately launch a new bull rally. Another scenario pointed out by the analyst is for BTC to fall to $11,000 or below. The expert believes that the bull market will start right after that, because he does not believe that Bitcoin can fall further. The analyst believes that one of these two scenarios will definitely happen. In both scenarios, Vays expects Bitcoin to reach the $23,000 price level late this year or early 2023. Bitcoin, as of now, is 16. it is trading at $574.
Different Estimates, Different Criteria!
According to some analysts, BTC could reach the base level in a few months. Noting previous bear markets, experts claim that in the long run everything will be fine. Analysts also bring light to an important issue. The rise in Bitcoin does not start during or after the halving. It will start when the bottom of the bear market is reached. This could happen today. Or next month. Or maybe three months from now. But eventually, BTC will gain momentum.
According to some analysts, the macroeconomic environment and the sentiment in the market will continue to push down the price of Bitcoin. Bitcoin is currently in a bear market and will rise after the bottom level is formed. However, the Fed’s rate hikes remain the biggest obstacle in front of cryptocurrencies.
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