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Bitcoin coming into remaining stage of main bull pattern, crypto analyst says

10/16/2021

In response to crypto analyst and dealer Alessio Rastani, Bitcoin will finalize its upward trajectory towards $100,000 within the subsequent few months.

Dealer and cryptocurrency analyst Alessio Rastani believes Bitcoin (BTC) is coming into the ultimate stage of the present bull market, which is able to propel the main cryptocurrency to a $100,000 value goal. 

To elucidate his prediction, Rastani cited the Elliott Wave Concept, which divides upward value developments into 5 waves. Rastani believes we have now entered the ultimate wave of a bull pattern that began initially of 2019 and that ought to see its prime in some unspecified time in the future subsequent 12 months.

“When this five-wave transfer completes, then I’m anticipating a bear market,” he stated.

Citing analysis by behavioral finance skilled Jason Goepfert, Rastani predicted that the subsequent Bitcoin bear market might coincide with a broader downtrend in conventional markets, which may come “within the subsequent couple of years.” Rastani identified that Bitcoin could be negatively affected by a inventory market correction, on condition that each shares and BTC are risk-on belongings.

“When there’s an urge for food for threat, each markets go up. However when there’s low urge for food, when there’s little urge for food for threat, they go down.”

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