If you have been following us for a long time, you know that we run a whole series of Bitcoin forecasts. If you have just started following our thoughts, then follow the link above and study the entire history of Bitcoin forecast.
Below is fulfillment of our last Bitcoin forecast that we posted almost a month ago.
It seems that it’s hard to think of a clearer fulfillment, the BTC price fixed a local high of $52,900 (in the middle of the zone we noted). After the test of this mark, sellers began a 2-3 hour fall, which spoiled the mood and deposits of margin traders. Bitcoin fell by -20% and other cryptocurrencies by -30-40% and in some cases even more.
The main Bitcoin forecast for continued growth
Since you like the mini fractal topic last time, let’s continue in the same vein)
Today we present you one more minifractal with the fulfillment terms +/- 3 weeks.
This development so far clearly fits into the forecasted global alternative scenario of BTC price movement, which we published 3.5 months ago:
So, this mini-fractal on the chart, tells us that in the coming days the fall of BTC $42,250 is possible.
Aggressive buying back by buyers of the possible fall will indicate that further fulfillment of the fractal, namely further growth to at least $52,000, is very, very possible.
What awaits the cryptocurrency market during the realization of the main Bitcoin forecast
What will happen to altcoins during this period? – interesting question … We think that they will fall harder than Bitcoin, so each cryptocurrency should be considered individually, which we systematically do.
As long as Bitcoin’s dominance is on the downside, altcoins are doing well. But if BTC dominance starts to grow as shown in the chart below, then capital may start to flow from other cryptocurrencies to Bitcoin: BTCUSDT price will rise and altcoins prices will fall. Only some altcoins might shoot up from time to time.
There’s a cool saying: You can’t make all the money – you can only lose all the money! So you have to be careful with other cryptocurrencies. It is better to follow them for a long time, understand their mood and price trend, and make a little bit of money on it. Than to take a position and then sit in a drawdown for 6-12 months (if you do not use stops), calming yourself that you are a long-term venture investor. If that doesn’t work for you – entrust your deposit to professionals!