“Macro Rise in Crypto in About 6 Months”
The popular crypto analyst known by the pseudonym Cred has warned his half-million followers. He claimed that the “death, life or death moment” for Bitcoin had arrived. The analyst said that if BTC fails to maintain the $19,000 to $20,000 price range, he wouldn’t be surprised if it drops to $16,000. This means that it melts more than 15% from its current value.
“Some daily BTC considerations: The market looks tough. $19,000 – $20,000 is a do-or-die point as the last and only technical structure. Any acceptance below that will result in a bigger bottom.”
Crypto analyst Benjamin Cowen predicts that it may take another six months for Bitcoin to rise again and its price will fluctuate by then. This may mean that altcoins may experience much larger losses. But most of the bottoms have eased to support levels. In that case, we may see days when the cumulative value of cryptocurrencies loses 800 billion dollars.
“The time for crypto’s macro upswing is probably in about six months. Until then, a lot of people will be disinterested. Your job is not to lose sight of the big picture, even when you feel like the crypto world is crumbling around you.”
Cowen warns that crypto markets could inflict huge losses on both bears and bulls before a sustained upward move begins.
“Both bears and bulls are going to be sorely hurt in 2023. The bears have been rectified in January and February giving the bulls a false sense of security. Only then can we get bullish again after both sides have been battered enough.”
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