👨🏫Wyckoff Bitcoin Price Analysis👨🏫
Wyckoff’s distribution schematic lines up quite perfectly with Bitcoin’s price action in April and May and this is something that was first noticed by another crypto YouTuber called Uncomplication Wyckoff’s redistribution pattern looks eerily similar to Bitcoin’s current price action, even more so than the accumulation pattern which I have been using as a reference over the last few weeks
📊Stock Market Correlations📊 Cryptocurrencies have reached their highest correlation with the stock market. Right now, almost every stock is hitting all-time highs, even growth stocks that have similar risk profiles to Bitcoin It is possible that we are on the brink of a massive crash across the board. This would prompt most investors to sell their riskiest assets first It is also possible that investors are hesitant to buy cryptocurrencies for other reasons besides risk. After all, they wouldn’t be buying similarly risky stocks and assets if risk was the main concern
🤵Big Investors Stress Testing Crypto🤵
According to Ark Invest CEO Cathy Wood, big investors are looking for resiliency and sustainability in the crypto market. She likens the current crypto mining clampdown to China’s 2017 trading ban Back then, big investors waited until the trading volumes of cryptocurrencies became more evenly distributed around the world and recovered their liquidity before buying back in Today, big investors are waiting until Bitcoin mining to become more evenly distributed around the world and for its hash rate to recover
😱Is the Crypto Bull Market Over?😱
Even though a crash is somewhere on the horizon, I believe that we are going to see one more massive run up before then. This is primarily because there are so many bullish developments upcoming for some of the largest crypto projects 💱Why Ethereum Might Flip Bitcoin💱 Whereas Bitcoin is still recovering from its hash rate collapse, Ethereum’s has been comparatively unaffected, and its decentralized financial ecosystem has likewise remained stable. The two recently Ethereum ETFs have also not been rejected or postponed. One may already be approved!
🔮Cryptocurrency Price Predictions 2021🔮
A realistic expectation for Bitcoin lies in the 100-200k range, which is an easily achievable target if a Bitcoin ETF is approved in the United States before the year’s end This would work out to a modest 4-6x move from current prices. Most large cap altcoins would see comparable gains, with many mid and low caps likely doubling that.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.