A well-known crypto strategist and trader predicts a parabolic rise in the value of Bitcoin (BTC), which will see the chart rise to an all-time high of $64,000 recently. Crypto analyst Jack Sparrow, who accurately predicted the rise of BTC to $ 19,000 last year, explains that he is gathering strength to catch the possibility of Bitcoin rise. Details are as follows…
Analyst expects $380,000 in Bitcoin (BTC)
Analyst Jack Sparrow shares his analysis, which is based on Bitcoin (BTC) cycles and points to $ 380,000, with 203,600 followers as follows:
If this BTC cycle results in similar returns in a similar amount of time to the previous cycle, the chart could look exactly like this (below). Perspective is valuable. Lately they’ve been calling me a permanent bear, but really all I do is wait to take a position against that possibility.
Cryptocoin. com, as we previously reported, in the 2017 rally cycle, Bitcoin dropped from around $5,000 to $2,900 before skyrocketing to $20,000. Jack Sparrow, 1% if Bitcoin is in a precedent bull market stage. He suggests that there is a 000 chance of a rally. The crypto strategist maintained his long-term bullish expectation even after the May sale that devalued BTC by more than 50%. According to Jack Sparrow, the bull market is not over. The analyst’s words are as follows:
I think we are missing wave 5 and since $65,000 it is very possible that the correction is our wave 4 correction. I think the bull is not over and the game is to survive while patiently risking the fifth wave.
Finally, the analyst uses the Elliott Wave theory, which predicts future price action by analyzing the cycle of big waves and market psychology. According to the theory, the fourth wave is a correction period that precedes the last leg of a market cycle. In the medium term, Jack Sparrow expects Bitcoin to continue to consolidate over the next few months before resuming the bull market in early 2022.
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