A well-known crypto trader is warning that Bitcoin and the rest of the crypto market are likely to take another tumble before they start to climb again.
More Downside Before Reversal
The analyst, known as “The Flow Horse,” says that markets rarely bounce back immediately after a big drop. He points to Bitcoin’s recent 15% plunge to $49,000 as an example. He believes that Bitcoin is likely to dip even lower before any significant recovery.
“We usually don’t see a quick turnaround after a big move like this,” he explained. “It’s more likely that we’ll see a few more chances to buy at a lower price. Be patient and enjoy the ride.”
ETFs: A New Era for Crypto
Despite the short-term outlook, The Flow Horse remains optimistic about the long-term future of crypto. He believes that the introduction of exchange-traded funds (ETFs) has ushered in a new era for the asset class.
“ETFs are just the beginning for crypto,” he said. “We’re still in the early stages of this integration, and it’s going to change the market landscape dramatically. I don’t think we’ll see the same four-year cycles anymore.”
Stock Market: A Temporary Dip
The analyst also believes that the recent stock market correction is temporary. He expects the market to rebound in the coming months.
“My prediction is that in six months, the stock market will be higher, and we’ll be talking about something else entirely,” he said.
Disclaimer:
This information is for educational purposes only and should not be considered investment advice. Always do your own research before making any investment decisions. /p>
