Crypto Trader Says An Ethereum-Based Altcoin Is Coming Out, Setting Date On Bitcoin Exchange
According to a well-known cryptocurrency analyst, Bitcoin (BTC) is expected to bottom out this year and then recover in 2023.
The analyst considers historical market cycles in relation to Bitcoin halvings, which take place every four years and involve a halving of BTC mining payouts.
Rekt Capital updates his 45,100 YouTube subscribers on the future of the king cryptocurrency in a new video.
“The macro decline ends about 450 to 400 days before the halve event.
macro decline coming to an end and a fresh macro rise starting. And at the same time, the accumulating range is left.
That is its main focus.
Rekt Capital forecasts the next BTC market bottom in relation to the following planned halving by taking a look at this historical pattern.
“Late Q1 of 2023 will mark the beginning of a fresh macro upsurge. That suggests that the market will likely bottom out in the fourth quarter of this year, perhaps even in November.
BTC is currently worth $23,143 on the market. The analyst also takes a quick glance at Chainlink (LINK), an oracle platform based on Ethereum (ETH), which appears to confirm LINK’s recent breakout.
“LINK has confirmed the breakout by successfully retesting the top of its Falling Wedge as support.” For the trend to continue past the black $7.78 resistance, LINK only needs buy-side volume follow-through.
News Summary:
- Crypto Trader Says An Ethereum-Based Altcoin Is Coming Out, Setting Date On Bitcoin Exchange
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