Bitcoin Start of the Bull Run or correction for yet another fall
It is beginning to look like good days again for the crypto market. However, people are rightly or wrongly using BTC price as an index for buy and sell orders on other cryptos too. this dependence hopefully will fade out by decreasing BitCoin dominance in the market. However till then (and I believe we are not there yet at all) the price of BitCoin will dictate the trend for the Altcoins too. After a period of the two-week downtrend on BTC from 65 to 46, now we see the consolidation and even sharp reversal bullish trend in BTC price and hence the Altcoins too.
The main question is if this is the main uptrend or is it the correction to the sharp fall we experienced last two weeks. I believe we will see a good uptrend to reach to 60K price. Unfortunately, this will be a correction of the price downfall. we will see towards Mid May another Fall for BitCoin to 40K even.
The good news is all this downtrend is actually a correction for the main bull run and we expect the rise of the BitCoin starts again in early June.
Disclaimer: I am not a Financial Advisor and this is just an analysis based on my knowledge of wave theory. please do not trade just based on this article and do your own due diligence.
The main question is if this is the main uptrend or is it the correction to the sharp fall we experienced last two weeks. I believe we will see a good uptrend to reach to 60K price. Unfortunately, this will be a correction of the price downfall. we will see towards Mid May another Fall for BitCoin to 40K even.
The good news is all this downtrend is actually a correction for the main bull run and we expect the rise of the BitCoin starts again in early June.
Disclaimer: I am not a Financial Advisor and this is just an analysis based on my knowledge of wave theory. please do not trade just based on this article and do your own due diligence.