- Crypto expert talks about a miracle play for the market.
- Could this play out following the largest liquidation in crypto history.
- The analyst expects the price of BTC to hit more ATH targets.
Following the events of the largest crypto market liquidation in history, several reputed crypto analysts are divided between bullish and bearish sentiments. With a lack of new data in the market, analysts scramble to share deep insights. One crypto expert talks about a miracle play following the largest liquidation event to ever grace crypto history. What does he expect from the crypto market after this $20 billion liquidation?
Crypto Expert Talks About a Miracle Play Following Liquidation Event
The end of the last week saw a brutal crypto market liquidation that wiped out nearly all altcoin leverage and long positions, taking out even $3 billion worth of short positions. What’s more, the price of BTC fell from $121,000 to $104,000 in under 1 hour, seeing a cascading fall throughout both financial markets, stock and crypto. This was seen as a textbook market manipulation move by reputed crypto analysts.
In response to the crypto market purge, these reputed analysts believe that the crypto market has now been reset and that the sentiment could turn either way, bullish or bearish, in the coming weeks ahead. Expectations for altseason are especially being debated, while most analysts are leaning towards short-term bullish possibilities for BTC price to pump, with bearish views for the mid and long-term.
As we can see from the post above, this reputed crypto enthusiast and trader says that the fact that the price of BTC and ETH are still holding strong following the largest liquidation in history, feels like a small miracle. He is pleased to see that October hasn’t turned fully red and believes that this is a sign confirming that the crypto market is not turning bearish. He says that this cycle is different from other bull cycles and explains why.
What to Expect Next
He starts by saying that investors aren’t panicking, they’re reallocating and once all the capital from gold rotates to BTC then the pump will be euphoric. What’s more, public companies are adding BTC to balance sheets, CME is prepping for 24/7 trading, stablecoin issuers are exploding in growth, and states are preparing to buy Bitcoin. He concludes by saying that the BTC top is not in yet.
Finally, he finishes with a quote from Howard Marks – “Valuations are high but not crazy. Expensive and going down tomorrow are not synonymous.” In conclusion, he confirms that he is still bullish and that this crash didn’t liquidate him and did not change his conviction. Instead, he bought the dip and continues to hold strong with expectations for BTC to grind to higher targets.
