Bitcoin could soon reach $45,000 if this pattern repeats, analyst says. Has the crypto started a new bull market?

Find me on Twitter at @FrancesYue_ to share any thoughts on crypto, this newsletter, or your personal stories with digital assets.

This week, I caught up with Vetle Lunde, senior analyst at K33 research, who said bitcoin could reach as high as $45,000 in a month, if it follows the patterns it saw after the 2018-2019 bear market. Meanwhile, 510 days into both cycles, bitcoin are down about 60% from the previous peaks, according to Lunde.

Similarly, FTX’s collapse in November last year led many investors to sell their bitcoin or short the cryptocurrency, as they expected further losses in digital asset prices, Lunde noted. What’s more, the macro environment has changed significantly. The broader economic environment, which currently looks vulnerable to a recession, didn’t matter as much to bitcoin’s price back in 2018 as it does now, as there was less institutional adoption of crypto in the past, Lunde noted.

No, no, no.

Sell indicator.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin, Ethereum Technical Analysis: BTC Nears Breakout Below $29,000 on Wednesday – Market Updates Bitcoin NewsBitcoin fell to a one-week low on Apr. 19, as markets moved into consolidation following a recent bull run. Nice one, I also listen to ChiefraFba for signals and analysis! Well, that was a bit unexpected. I hope next week it will come back to $30k. I have a uniqe username Check Out Thanks Lest Go For First Lucky People
Source: BTCTN - 🏆 531. / 51 Read more »