Bitcoin is entering the final stages of its bull trend, says an analyst

Cryptocurrency trader and analyst Alessio Rastani believes that Bitcoin (BTC) is entering the final stage of the current bull market, which will push the leading cryptocurrency up to $ 100,000.

To explain the reason for this forecast, Rastani cited the Elliott Wave Theory, which divides upward price trends into five waves. According to the analyst, we have just entered the final wave of an uptrend that began in early 2019 and which will reach its peak next year:

“When this five-wave move completes, I expect a bear market.”

Elliott Wave Theory: Market prices break down into five waves as they move in the direction of the broader trend. They split into three waves when they move in the opposite direction

Citing a study by behavioral finance expert Jason Goepfert, Rastani predicted that Bitcoin’s next bear market could coincide with a broader negative trend in traditional markets, which could occur “in the next two years.“The analyst pointed out that Bitcoin would be negatively impacted by a stock market correction, as both stocks and BTC are considered high-risk assets:

“When there is an appetite for risk, both markets go up. But when that appetite decreases, so do the markets.”

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Bitcoin entering final stages bull trend analyst

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