People and interviewsEditorial office

Is the market falling, or it’s just a pre-bull ebb? Experts’ predictions about the next crypto movement

Tanja Nechet

News editor

Jan 27, 2023 at 04:49

The cryptocurrency market suddenly shot up in early 2023 after a difficult previous year. The decline was caused by the fall of a number of large companies. However, after a couple of “green” weeks, the cryptocurrency market slowed down, which caused panic among crypto enthusiasts. 

Let’s analyze with crypto experts and influencers what caused the decline. Is this a temporary situation, or is there a bear market ahead?

Cryptonauts – YouTube channel (22K Twitter followers, 94K YouTube followers)

“Volatility is always a factor in our industry. That said, we think the market will continue to be bearish for the next 18 months.”

WebMasterMind – crypto YouTuber (19K Twitter followers, 74K YouTube followers)

“Market is not going down. Little up and down is very normal for Bitcoin. Look at the weekly chart, the last three weeks it’s going upside. When investors booked their profit, the market goes down, but no big move downside. I have not seen a big flow on exchanges, so it’s clear no big dump next week. In my option, Bitcoin will hit $24k to $25k and then go down. Some altcoins will perform good in between.”

Metastract – French artist, NFTs creator, and collector (29K Twitter followers)

“One of the basics of a financial market is that it doesn’t just go one way or the other. When a market is bullish, it comes to test some strong resistance. When resistance is not broken, the market goes back down to gain strength to retest that level. It works the same way when a market is bearish, except we will talk about support rather than resistance. 

We can’t talk about a decline yet, because a chart is not very meaningful on a day-to-day basis, it is better to read it over several months. 

I don’t think we can talk about panic selling either at the moment, key resistances have been crossed and should turn into support, but we have to be careful and remain cautious. Many external events can also come into play.”

Suspicious Unicorn Society – NFT collection representative of the same name (4,8K Twitter followers)

“I don’t really think the retailers really have a position in choosing where the market goes. Maybe in microcap sh**coins, but mostly this market is run by MEV botsThis is an arbitrage trading bots for Ethereum, that is, a small program that works independently according to predetermined parameters., market-making bots, funds, Tard-FiA slightly offensive term used by degens to describe traditional financial services. boomers, and then degens and retailers. 

In the end, at least lately, we have seen movements from the Binance cartel in BUSD, and when the money printers [went] BRRRRR, the price went up. 

At one point though, profits will be taken and positions liquidated, some call it manipulation but in reality, this is just the market. 

Retailers are the last ones to know what is happening, if you look for example at what hour the bank run on FTX started and when people started to talk about it on Twitter and co, massive outflows started 24h+ earlier.”

A deeper dive: using technical analysis, CryptoQuant analysts have named five key indicators of Bitcoin’s future growth. In addition to signs of a new growth cycle, there are more negative indicators. Read more here.

All information provided on this website is for educational and informational purposes only. Please consult with our Disclaimer.

Home » People and interviews » Is the market falling, or it’s just a pre-bull ebb? Experts’ predictions about the next crypto movement

Your complaint has been sent to a moderator