For around a decade now, Bitcoin has been on a ride with a lot of downs and a lot of ups. Parabolic price surges are as common as 90 percent in value for basically every coin or token in the whole crypto arena.
The analyst Trend Trader perfectly summarised the world of Bitcoin up while they laid out the $10k BTC price mark theory at the same time.
$BTC-Theory to 10000.— Trend Trader (@TrendTrader13) June 8, 2019
1. Market Makers convinces CT to go USDT on atleast 50-70% portfolio. CT says ✅, as a result BTC dips below 8000.
2. More FUD, more selling & MM keeps buying the dips till 6500-7000 while we proudly keep selling into stables even sub 7200 hoping for 5000.
This theory comes with everything we expect in the crypto space such as unexpected volatility levels, rowdy bull runs and bear markets that can last as long as a winter in Game of Thrones.
3. Some Alts run & we keep going in&out of BTC to trade it fearing BTC dump too at the same time, end result = less BTC&USDT than u have today— Trend Trader (@TrendTrader13) June 8, 2019
4. MM starts pushing BTC 🆙, CT advices to short the bounce hard & provide liquidity. MMs r 😃 & BTC crawls back up with its Iron-Claws
A senior trader a Cipher Technologies, Jake Stolarski is predicting a ride that has few more bumps on the way. Recently speaking to Bloomberg, the trader said that the markets could be some short-term bubble to a sense.
During such a volatile time, the crypto markets could experience quite a bit of suffering:
“The market is in an identity crisis, trying to find a place to stabilize. The key technical levels have been creating market volatility, for sure, due to sudden shifts in sentiment.”
There is an overall bullish sentiment in the markets at the time of writing but there are always people who believe the leading digital currency will fall to zero with the rest of the markets.
As reported by ZyCrypto:
“And even if the market remains bullish, the dips and volatility will surely continue along the ride. Maybe this zany Twitter thread is as good a guess as anyone’s regarding what will happen on the way.”