It is possible to support our prediction that #Bitcoin 's bottom level may be in the 55K-60K range and that it may recover rapidly after hitting the maximum 50k level, and then the recovery process in altcoins will begin, with previous market cycles, historical data and current market conditions. Here is the data that supports our prediction:
1. Historical Market Cycles and Support Levels
👉Previous Bull Markets and Corrections: Bitcoin has generally fallen to certain correction levels after previous bull markets. For example, following the 2017 bull market, Bitcoin dropped from $20,000 to $3,200, a decline of 84%. Similarly, after reaching $69,000 in the 2021 bull market, it fell to $30,000, a decline of over 50%. The corrections seen in these cycles indicate that Bitcoin may experience a 50-60% decline from its highest price.
👉Fibonacci retracement analysis also shows that the 60,000 USD level is a strong support point. In particular, the 61.8% Fibonacci retracement level falls in this zone, and this level is generally considered to be where major corrections end. However, corrections in major bull markets can often be less pronounced, so the $55,000-$60,000 levels can be considered strong support points.
🚨Bitcoin price is currently holding several important support levels. The first support level is located in the $60,000-65,000 band. This area also worked as a strong support in the previous bull market and enabled the price to recover.🚨
🚨Also, there is another critical support level in Bitcoin price around $55,000. This area stands out as both a psychological limit and an important level where the price found support in previous bull markets. Once below this level, $50,000 can be expected to act as a strong support.🚨
👉Psychology of Market Participants:
Large players in the market (whale) generally tend to buy at certain levels. 60,000 USD could be considered an attractive entry level for these players, which could prevent a drop below this level.
🚨 As long as the 55k and 60k levels are maintained and the day does not close below, our ATH expectation in Bitcoin continues.🚀🚀
2. Horizontal Process and Recovery in Altcoins
👉Historical Horizontal Processes: Historically, Bitcoin generally moves in a horizontal process after large declines. For example, after the big drop in 2018, Bitcoin moved sideways around $6,000 for several months. A similar situation can be expected to occur in the range of $55,000-$60,000.
👉Altcoin Performance: According to historical data, altcoins generally tend to recover during periods when Bitcoin moves horizontally. For example, while Bitcoin remained flat in the first half of 2019, many altcoins achieved gains of over 100%. Periods when Bitcoin remains horizontal allow investors to turn to riskier assets.
3. Losses in the Short Term
👉Liquidity Situation and Correction Process: During major correction periods, investors usually sell to eliminate their losses. This usually takes a period of several months. For example, after the big drop in March 2020, Bitcoin started to compensate for its losses in about two months and entered a rapid upward trend. This supports the prediction that damages can be extracted over a period of several months.
👉Our expectation is that this period will be 1-2 months.
4. 10-20x Earnings Process
👉Altcoin Cycles and Opportunities: Altcoins generally offer high profit potential during periods when Bitcoin is stable. In past bull markets, altcoins have provided much higher returns than Bitcoin. For example, in the 2021 bull market, many altcoins increased by 10-20 times in a few months. Such profit opportunities can be seen again during periods when Bitcoin is trending sideways.
👉Historical Performances: There are many examples of altcoins experiencing increases of up to 1000% during big bull periods. For example, Ethereum rose from $10 to $1,400 in a matter of months in 2017. Similar opportunities can be evaluated by investors during periods when Bitcoin is stable.
🚨In summary🚨
Our prediction that Bitcoin may bottom out at the $55,000 and $60,000 levels, then drop a needle to the $50,000 level, then move sideways, creating recovery opportunities for altcoins, and ultimately enter a process that can provide 10-20x gains, is supported by historical data and market cycles. These predictions are based on the past performance and market behavior of Bitcoin and altcoins.🚀🚀🚀
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My Bull Season Goals
$BTC - $210,000
$ETH - $17,000
$BNB - $2,250
I will continue to share our expectation levels for the Altcoins we are in and support.👍
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