How long will the current crypto boom season last? Ari Paul, chief information officer at BlockTower Capital, thinks the rally will continue for at least another nine months.
In a tweet on February 4, Paul He said The industry is currently in the “seventh half of a bullish cryptocurrency market.”
“This is where we get a constant, amazing rotation. BTC, then when BTC takes a breather, ETH and some big caps (and in that system, defies the blueprints), then little caps, rinse and repeat. Of course, throw about 30-60% off Corrections for the sake of fun. “
Paul’s comments point to a bull market for cryptocurrencies in general, including Bitcoin (BTC) and altcoins, not just the current altcoin scene. Although the seventh game of a standard nine-stroke baseball game may seem late, Paul started his bull market hour when the cryptocurrency market hit a bottom in 2018. “I consider the bull market starting from its all-time low in the last session ( End of 2018) ‘ He said In a separate tweet.
To everyone who says, ‘Wait, this revolutionary race has clearly had a lot to go! “It is so …. The beginning of 2017 was indeed the fifth or sixth period of the uphill race of that cycle,” he He said In a different Twitter post.
The 2017 bull market was referred to multiple times as a major period of asset price boom for the crypto space, which ultimately included Bitcoin reaching an all-time high of near $ 20,000 in December of that year, followed by the 2018 market crash. Bitcoin broke higher. Its level for 2017 in December of 2020.
“In terms of time, I think we have 9-22 months,” Paul He said From the current bull race for cryptocurrencies, in response to a comment on one of his tweets. He added, “In terms of price – my guess is that Bitcoin is ending the bullish race between $ 100,000 and $ 400,000, while the alternatives are working better.”
Paul later clarified his thoughts in a subsequent tweet, noting the controversial nature of bull market timing. “My simile in baseball causes some confusion because there is no consensus on how to classify the bull market stages or even where to start,” chirp. “So let me make this analogy and review my thoughts on the market cycle and where we are today.” He outlined his thoughts on how the cryptocurrency markets have been performing since 2018, including comments on the decline in COVID-19 in March 2020, and speculations about the coming months.
Regarding the current day, Paul mentioned further potential performance from altcoins, except for the large volatility from Bitcoin. “As long as BTC consolidates, I expect the changes to continue to perform reasonably well,” he said He said. He added: “At some point, BTC will initiate another move in the parabola up and will potentially outperform the changes in the move.” This move will lead to the next rise in new money.