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Bitcoin Is Near To The Conclusion Of A Significant Bull Run - Analysis.
2021-10-18 | Mike Hallen
I'm anticipating a bear market after this five-wave move is over, he added.
Rastani projected that the next Bitcoin bear market will coincide with a larger decline in traditional markets, which may happen in the next couple of years, citing research by behavioral finance specialist Jason Goepfert. Given that both stocks and Bitcoin are risk-on assets, Rastani pointed out that a stock market downturn would have a negative impact on BTC.
Both markets rise when there is a desire to take risks. They fall when there is a lack of hunger when there is a lack of desire for danger.
Bitcoin Long-run Bullish Trend
While explaining further, Rastani added:
“I have been bullish on bitcoin since late March and early April 2020—especially when I saw BTC holding the weekly 200 moving average (200 WMA). This was an important bullish clue, and as long as BTC remains above 7000, I will continue to remain bullish for the long-term.”
