Bitcoin’s price has reached $100,000, but experts say this is only the beginning. According to one analyst, the market is due for a reversal after the current high is hit, potentially leading to a significant crash. The analyst notes that past cycles have shown a similar pattern, with prices rising before plummeting.
The analyst’s predictions are based on the halvening of bitcoin’s supply, which causes its value to double. This event has been the catalyst for previous price increases and potential crashes. However, experts warn that this time around, the market may be more unpredictable due to changes in sentiment and market conditions.
Some key points from the analyst’s roadmap include:
* The current hype surrounding bitcoin is unsustainable and will eventually lead to a crash.
* Previous bubbles have burst when prices approached or exceeded the moon.
* The high may not be tradeable due to the short nature of the final move.
* Expectations of the high being reached by inauguration may actually cause it to happen earlier.
The analyst has already sold their bitcoin at $100,000 and plans to test a less popular asset, Solana. However, they caution against holding onto bitcoin during the impending crash, unless you have a solid plan in place and can afford to ride out the crypto winter.
Source: https://www.forbes.com/sites/digital-assets/2024/11/25/bitcoin-endgame-2-charts-you-need-to-see