A widely followed cryptocurrency analyst has claimed that the market has not bottomed out yet and that there may be another downward momentum before another bull market cycle begins.
“The Bear Season Is Not Like the Previous Ones”
Crypto currency Altcoin Sherpa senior analyst, in a statement via Twitter 187.100 known by the nickname of followers historical drew attention to the performance of the crypto currency market, the bear market along with the current estimate on how different macroeconomic conditions of an unexpected suggested that lasts. The expert analyst made the following statements on the subject in his statements:
Considering the bear markets of the past, we cannot make a definite opinion for today. Because each market cycle involves different economic conditions. The macroeconomic environment of the past years was never similar to the year 2022. (odds + battle + everything else is scary). So we can stay here longer.
However, Altcoin Sherpa predicted that a possible upward movement of the crypto currency market could occur in a time interval of three to six months, and said the following in December:
As a result, we can walk around for three to six months or longer. Fasten your seat belts, it’s probably going to be a long trip. Accumulation takes a long time, and patience is the basis of this work. I think most people will do the best DCA (dollar-cost average) on behalf of Bitcoin and Ethereum.
The Bottom Level in Bitcoin
Altcoin Sherpa also suggested that the cryptocurrency market may see fluctuations in new high or low price levels during the months-long accumulation phase, but still believes that the market has not bottomed out yet. Altcoin Sherpa emphasized the following on the topic:
For active investors, there will definitely be jumps and market movements. I think we will see 20% -100% movements during this accumulation cycle, as we always do. But I am still waiting for a final fall so that I can assume that the bottom has come.
Sherpa an expert Altcoin, Bitcoin to the bottom of $ 10,000 possible to estimate a price and believe that the bear market begin in November 2021 when you say it took about a year and some days the bear market starting in May of 2021, and 580 other analysts have claimed.
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