An analyst who passed the correction before Halve of Bitcoin last year believes that BTC is about to enter a new explosive phase of the market cycle.
The analyst under the pseudonym stretches capital tells His 105,000 YouTube subscribers are convinced that Bitcoin, based on historical priority, could soon have a huge outbreak, after the recent correction.
However, he warns that a serious correction can follow on the next large rally, based on the usual Cyclus patterns of Bitcoin.
“We are about to go into a parabolic phase in the cycle again. The second upward trend in the price development that will bring us into price development and to new record heights. And then of course we have to prepare again for that price correction … it will take several weeks and there is a good chance that it will be deeper than this relapse of 17% that we saw …
That second price correction could be very different, it can be much deeper and I am sure that he will capitulate many private investors in the market. ”
The trader also expects Bitcoin to enter into a third price discovering phase after the potentially serious correction based on earlier cycles.
“It will most likely not be the end of the cycle as a whole, and we still have a third upward trend in the price development ahead. So if we look in this market cycle in general where we are: we are in the parabolic phase of the cycle. And if we look at where we are every month, we are in the third month of the upward trend in the price development in the parabolic phase of the cycle. ”
At the time of writing, Bitcoin is traded for $ 104,565.
https://www.youtube.com/watch?v=98KIMSYOBI
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