A Crypto Strategist Predicts a Market Expansion Similar to 2019
A popular crypto strategist, known as The Flow Horse or Cantering Clark, believes that the digital assets market could experience a significant expansion, similar to what happened in 2019. The analyst suggests that the crypto market may end the year on a positive note.
In 2019, the crypto markets saw a rebound after a difficult 2018. This led to the growth of decentralized finance (DeFi) projects and set the stage for substantial bull rallies in 2020 and 2021, amidst the COVID-19 pandemic.
The analyst advises you to think about 2019 when considering the current market situation. He suggests that although it’s uncertain what will trigger the next big move, it could be similar to what happened during the pandemic.
Bitcoin is Currently the Only Trade of Interest
The Flow Horse states that he is currently only trading Bitcoin (BTC) and has no interest in altcoins. He explains that this decision is based on BTC’s location within the market.
Regarding the recent Bitcoin market correction, the analyst predicts that a short squeeze is likely to occur after retesting the $25,117 level. He believes this level is an ideal area to trap sellers and offers a favorable risk/reward ratio for long-term trades.
A short squeeze occurs when traders borrow an asset at a certain price, hoping to sell it for a lower price and profit from the difference. However, when the market moves against them, they are forced to buy back the asset, leading to further price increases.
As of now, Bitcoin is trading at $26,200, showing a 1.3% increase in the last 24 hours.
Hot Take: A Positive Outlook for Crypto Markets
The crypto strategist suggests that the digital assets market could experience a significant expansion similar to what occurred in 2019. He encourages investors to consider this possibility and remain optimistic about the market’s future. With Bitcoin as the primary focus and a potential short squeeze on the horizon, there may be opportunities for profitable trades in the coming months.
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