- Reputed crypto analyst addresses growing bearish sentiments.
- The analyst expects a bullish turn for BTC soon.
- How high can the price of BTC go before altseason takes over?
Since the $20 billion liquidation event earlier this month, sentiments for a bearish market reaction are stronger than bullish expectations and predictions for BTC to set the next ATH price before relinquishing dominance to altcoins. One reputed crypto analyst addresses growing bearish sentiments and expects a bullish turn for the price of BTC and the crypto market soon.
Reputed Crypto Analyst Addresses Growing Bearish Sentiments
The $20 billion liquidation event seems to have coincided with the final days of the 4-year bull cycle. Analysts who believed in the continued relevance of the 4-year bull cycle believe that the time of the bull run has come to an end and that the peak bull market phase of the bull cycle has come to its end. Thus, many believe that this cycle has already concluded with a silent cycle top and no euphoric pump or altseason.
On this matter, many analysts are adamant that the bull cycle cannot end without an altseason. Similarly, others believe the 4-year bull cycle is no longer in play and has become obsolete due to mass crypto adoption and institutional financial entities entering the space. If this is true and the crypto market will henceforth function in year-long cycles like stocks will, then higher highs for BTC and an altseason could still be expected.
As we can see from the post above, this reputed crypto analyst addresses how bears keep screaming that there has been a lot of sell pressure from spot over the last few months and that this will force Bitcoin prices lower. He admits that it is true that the market has seen sell pressure since the start of the year, but what really matters is to understand who is selling and why.
He then states that the majority of this sell pressure, if not all of it, comes from retail investors who are panic-selling their bags because they are lost and have no idea what to do, not from smart money or whales as most people believe. Right now, retail is sitting in 100% cash, thinking they just sold the cycle top, and some of them are even building short positions aiming for much lower targets.
Bullish Turn for BTC and Altcoins Expected Soon
This is the perfect setup for another leg up into price discovery to force mismanagement of positions and use these people as exit liquidity at the real cycle top. The most used argument in my comment section will be that this belief is the ordinary one, and therefore, the market will experience the exact opposite happening to liquidate the crowd. That is absolutely wrong and 90% of people are expecting lower prices from here.
He concludes by saying that he heavily doubts this cycle will play out like the last one. So far, no cycle has ever repeated, and this is not going to be the first time. Weak hands have nothing left to sell here and this only happens at bottoms, never at tops. On behalf of him and all the other rational bulls, he takes a moment to thank everyone who sold their bags recently, as well as the big accounts who pushed that narrative.
