Close Menu
Crypto

Bitcoin trough in 2018, crypto analyst says the worst of the bear market is over – but there are pitfalls

Delbert Williams IIBy No Comments2 Mins Read

[ad_1]

The popular crypto trader, known for pinpointing the bottom of the 2018 Bitcoin (BTC) cycle, says the worst bear market is over.

Pseudonym Cryptographic Analyst Smart Contracter To tell His 217,400 Twitter followers say market conditions are starting to improve, even as the start of the new year could bring new lows.

“The worst of the crypto bear market is past. [the first quarter of 2023] But with FTX filing for bankruptcy and destroying nearly $2 trillion in wealth, it’s probably safe to assume that most of the crypto carnage is a thing of the past. Cheers to better times. ”

He also To tell While there is a strong correlation between tech stocks and Bitcoin, the correlation becomes even more pronounced when comparing the performance of Tesla stock to Bitcoin.

“Crypto has been correlated with technology for the past few years, but the BTC chart overlaid on TSLA is actually insane.”

image
Source: Smart Contract/Twitter

At the time of writing, Bitcoin is worth $16,828.

Looking at Ethereum (ETH), he To tell The smart contract platform is testing horizontal resistance at $1,226 but could break out to a new price range between $1,260 and $1,280.

“ETH looks like it has finally hit its 4-hour horizontal resistance. Hopefully this dreaded low volatility holiday period is finally over.

image
Source: Smart Contract/Twitter

At the time of writing, Ethereum is trading at $1,254.

Don’t miss a beat – subscribe to get encrypted email alerts delivered straight to your inbox

Price action confirmation

Please follow us twitterfacebook, telegram

Surf The Daily Hodl Mix

Check out the latest news headlines

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.

Generated image: In the middle of the journey



[ad_2]

Source link

Share.

Born in the early 80s in Milwaukee, Wisconsin, Delbert Williams II has always had a passion for writing. Even in high school, he earned excellent grades in English and writing classes. After attending John Marshall High School, he graduated from Project Stay Alternative High School in Milwaukee. From there, Delbert attended Milwaukee Area Technical College, where he studied music and communications. While he enjoyed these fields, his love for writing remained strong. In 2019, Delbert founded Hard Stack Street Mag, a publication that quickly gained a following for its unique and engaging content. As the founder and editor-in-chief of the magazine, he has worked tirelessly to produce quality articles that cover a wide range of topics, including music, art, culture, and politics. Now 42 years old, Delbert continues to pursue his passion for writing and journalism. Through Hard Stack Street Mag, he has created a platform that allows him to share his voice and perspective with readers from all over the world. With a strong background in writing and a deep understanding of the power of storytelling, Delbert Williams II is a writer to watch. He is dedicated to producing content that is both informative and engaging, and he is committed to using his platform to shine a light on important issues that are often overlooked by mainstream media.

Related Posts

Add A Comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.