Here’s why 2022 will be crazy about bitcoin
Bitcoin is set for explosive growth over the next year, according to market analyst and trader Lark Davis.
In one Video New York Times, Davis says recent bitcoin accumulation by long-term owners suggests that 2022 “is more optimistic than anyone could have imagined”.
Looking at a chart shared by on-chain analyst Willy Woo, Davis looks at the long-term spikes in holder accumulation that often occur before the price goes up.
“What do all of these huge accumulated time periods have in common? They come just before the massive protests.
Do you know what just happened Long term holder accumulation has just reached its peak. We are currently at the highest level of accumulation. Do you understand how crazy that is? BTC is about to hit a new ATH.
In the past, when prices skyrocketed, long-term owners withdrew from the market. “
Supply shock from long-term owners | The source: Willy Woo
“Interestingly, BTC has fully recovered from the recent decline. Now the price enters the accumulation detection phase. It shows me that the market is preparing for a “huge” expansion.
Because what we’re looking at is completely unusual, 2022 will probably be madness. Every previous accumulation high like this one has led to a very bearish phase.
Yes, BTC has gone through a very bearish period. And what now? Now BTC is preparing for the next big rally. “
The analyst believes Bitcoin’s sentiment will remain positive not just for the next year, but for the decade as a whole.
“We are in a phase of increased shopping. Everyone wants to get in now. Bitcoin will grow to $ 100,000, $ 200,000, $ 300,000, $ 400, $ 500,000, maybe even $ 1 million by the end of this decade.
2022 will be a good year. Really, I want to add that this decade has been a great decade. “
The best period of the bull cycle
Macro investor and former Goldman Sachs manager Raoul Pal says bitcoin and crypto are well on their way to entering a new phase of a bull cycle with the market trending higher.
In one episode Crypto banter, The digital asset market is poised to move higher after a brutal correction in recent months, macro experts say.
“The market is in the best part of the entire cycle. The price will go up significantly. The market saw all of FUD (Fear, Uncertainty, and Doubt) during the summer resulting in a 50% correction. Essentially, the market has been moving sideways in volatility since March for Bitcoin and May for the rest of the market. If you look at each cycle after halving, the game starts that quarter. “
Pal also said he is looking for an important catalyst that could propel the market higher over the next year.
“The key factor people need to think about is how organizations are distributed quarterly and annually. So we will see that anyone who has not invested or wants to increase their share of this bull run will have a hard time and is generally assigned to companies with good (profit and loss) financial reports. I think January, February and March are a lot more potential. It can take until June ″.
Real Vision CEO added that he was following the TOTAL chart (total market capitalization of all cryptocurrencies). According to him, the chart is trading in a long-term ascending channel and is likely to climb up to 400% by the end of the bull market.
“Basically, it’s two oversold standard deviations from the historical trend. That is the total market capitalization. So it seems that if you go with the trend and all of these exponential assets are doing the same thing, they will get overbought to the top of the trend. I suspect this will go from $ 2 trillion to $ 8-10 trillion at the end of the cycle and then adjust. “
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According to AZCoin News