A popular crypto analyst has warned that the crypto market may be on the verge of a significant correction. The analyst, known as The Flow Horse, believes that the recent market rally has created an overly optimistic atmosphere among traders.
Bitcoin’s Temporary Top
The Flow Horse predicts that Bitcoin (BTC) will likely experience one more upward move before forming a temporary top. He believes that this top will be followed by a period of consolidation lasting for several months.
AI Crypto Sector Set to Surge
However, before the broader crypto market corrects, The Flow Horse anticipates a rally in the artificial intelligence (AI) crypto sector. He attributes this potential surge to the upcoming Nvidia GTC, an AI-focused conference scheduled for March 18th.
Memecoins vs. AI Crypto
The analyst notes that memecoins have recently outperformed AI cryptocurrencies. However, he believes that this trend will reverse as investors flock to AI projects in anticipation of the Nvidia GTC.
Cautious Optimism
While The Flow Horse predicts a correction for the overall crypto market, he remains cautiously optimistic about the long-term prospects of Bitcoin and other cryptocurrencies. He believes that the upcoming halving event, where the block reward for mining Bitcoin is cut in half, will provide a significant boost to the market.
