Since the beginning of 2022, the crypto sector has been oscillating between downside and upside. However, this year cannot be said to be the best for cryptocurrencies. Although cryptocurrencies have been training slowly, the sector has remained red throughout the first quarter. Florian Grummes, a trading expert, warns that things are not about to change as bitcoin’s next bull run could be a year from now.
Bitcoin will have to wait for the next bull run
The recovery of bitcoin is generating a lot of excitement around the flagship crypto. With green oscillators for BTC, the crypto sector in general is blowing a bit since the start of the downtrend. Obviously, many investors are taking back positions and the charts are promising.
However, the market could continue to waver between decline and rise for many months. At least, that’s what managing director of investment advisory firm Midas Touch Consulting, Florian Grummes, thinks. According to him, bitcoin (BTC) is in recovery mode in correlation with stock markets. As a result, its instability could create some surprises.
During an interview with Kitco News on July 23, the finance expert claimed that the crypto winter is not over yet. As such, despite bitcoin’s current slight recoveries, the next bull run is scheduled for May 2024.
At the moment, the first crypto looks set for a relief rally and could probably hit $35,000. Nevertheless, investors should remain alert. Recall that the investor had already predicted that the main cryptocurrency would reach $100,000 in the first quarter of 2022.
BTC deserves the course above $20,000
After a relatively glorious period in the second quarter of 2021, cryptocurrencies are experiencing an unparalleled flop during the year 2022. Indeed, almost all crypto assets have lost more than half of their value. The sector then experienced one of its darkest periods.
In the creation, several investors put a brake on their operations in order to see what trend the markets will take in the future. Although other investors remained optimistic, prices continued to fall.
Fortunately, bitcoin made a successful recovery after failed attempts. Although many people are hoping to see all its glory, BTC must first break through the resistance at $23,800 if it is to breach the $28,000 mark as recommended by Michaël van de Poppe. Meanwhile, bitcoin is trading at $22,356 according to data from Tradingview.
Florian Logmes to affirm that bitcoin recovered in recovery mode for another few months. According to him, entry and adoption run establishments that will drive the next bull run. However, everything will depend on the Federal Reserve’s reaction to inflation. Thus, BTC has a high chance of hitting a new all-time high. However, this statement can be questioned when we know that he had already made predictions that did not come to fruition.
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The world is changing and adaptation is the best weapon to survive in this undulating universe. As a crypto community manager at the base, I am interested in everything directly or indirectly related to the blockchain and its derivatives. In order to share my experience and make known a field that fascinates me, nothing better than writing informative and relaxed articles at the same time.