2 Professional Bitcoin Analysts: The Downfall Will End On This Date!

2 Professional Bitcoin Analysts: The Downfall Will End On This Date!
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Two famous analysts shared their latest comments for the largest cryptocurrency by market cap. Analysts pointed to a number of cycles when announcing the dates for the uptrend for Bitcoin (BTC). Here are the details…

TechDev: Bitcoin no longer cares about halving cycles

A popular crypto analyst says that Bitcoin (BTC) will challenge all classical theories of market cycles next year. The analyst known as TechDev tells his 402,000 Twitter followers that he will challenge the classic belief that BTC’s price cycles are driven by halving cycles. Alving cycles are four-year intervals in which the block rewards of Bitcoin miners are halved. Many investors believe that this process plays a role in putting pressure on the price.

bitcoin

However, TechDev thinks that BTC will largely ignore the next halving, which is possible in mid-2024. He claims that this will replace the coin early next year. TechDev predicts that a jump in Bitcoin next year will coincide with the weakening of the US dollar, which it pegs against China’s ten-year bonds to depict a global liquidity cycle.

Was the actual peak recorded in “April 2021”?

The analyst also says that the bear market is deeper than many think, arguing that Bitcoin reached its peak in April 2021 instead of November. It therefore implies that the market is closer to turning on the contrary. He uses Litecoin (LTC) as an example for the anomaly seen in Bitcoin, which recorded a lower high in November. The analyst used the following terms:

BTC, I think, ‘peaked’ in April 2021. The structure of LTC (orange) is more easily digested for many. Parabolic top makes November ’21 a lower high. The majority still do not seem to understand that corrective waves can make new highs. Previously, they were only a fraction of the majority.

2 Professional Bitcoin Analysts: The Downfall Will End On This Date!

Rekt Capital: The bear market is coming to an end

On the other hand, statements came from crypto expert Rekt Capital. The analyst has set a date for the conclusion of the Bitcoin (BTC) bear market. Rekt Capital reported on Twitter yesterday that Bitcoin has historically found its absolute floor price about 365 days after the peak of the previous bull market. According to the analyst, considering that it has been nearly 400 days since BTC reached $ 69,000 today, the bulls may be ready to take action at any time.

Also, based on a BTC chart, Rekt Capital argued that the coin is still below the $17,150 resistance price, and a monthly close below $17,150 will likely confirm the resistance level further, which will send Bitcoin back to the $15,400 lows.

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Another analyst points to Bitcoin halving

Bringing up the data, Kyledoops argued that buying BTC about a year before a Bitcoin halving event always provides the maximum opportunity for investors. Every halving event is followed by a valuable increase in Bitcoin price. Considering that the next Bitcoin halving will take place in 2024, about 1.5 years from now, the chart analyst argued that collecting Bitcoin at the base now provides the last expectation.

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