This approach is likely due to the crypto market’s inherent unpredictability and notorious volatility. Related Reading: Dogecoin Bollinger Bands Squeezes Tighter Than It Was Before 2021 Rally, What This Means Analyst Sees Retail Activity Fueling A BTC Downtrend While unveiling his Bitcoin bear case scenario, Loukas disclosed that broader interest in cryptocurrencies outside of Bitcoin has faded significantly.
Providing a more compelling case to this narrative, a crypto analyst has released a Bitcoin bear case scenario that could see the pioneer cryptocurrency decline to $28,000. Bitcoin Bear Case Unveiled In an X (formerly Twitter) post, crypto analyst and Position trader Bob Loukas revealed a "Bitcoin bear case,” unveiling a more unorthodox and bearish scenario for Bitcoin than most analysts have suggested.
Basing his bearish scenarios on the cycle theory, Loukas proposes that Bitcoin might be part of the broader 16-year cycle, with the current market marking the final four-year phase of this cycle. Related Reading: Shiba Inu Burn Rate Surge 24,271% While Shibarium Transactions Spike, Catalyst For Rally To $0.00008?
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