At the time of writing, there is about half an hour until the US market opening and BTC It is advancing to the 88 thousand dollar threshold. The SEC’s crypto innovation exemption announcement and Vanguard’s announcement that it would allow crypto were the biggest events of the day. Bob Loukas said in his latest market assessment that the next phase of cryptocurrencies could surprise investors.
Cryptocurrency Cycle
According to the usual cycles of cryptocurrencies It needs to deepen the decline it started in November in December and January and reach a new low within a year. For now, BTC is close to $90 thousand and is trying to reclaim the $88 thousand support at the time of writing. The daily picture will probably be a little clearer when the article is published.
Bob Loukas said in his latest market review that the usual cycle story could surprise investors. The analyst who shared the chart below made warnings.
“The top of a 4-year cycle doesn’t have to mean another 70% to 85% down cycle.
“A version that would surprise many would be a more time-based decline (say, 50% to lows) before a new cycle begins with an early boom.”
Vanguard Whether or not the liquidity coming from the ETF will reignite the fire on the ETF front may be decisive in this regard. CZ wrote the following in his post just now:
“CZ: My prediction: many more ATHs will come soon.
“I just don’t know exactly when it will happen.” C.Z. (Referring to the prediction market launched with Trust Wallet)
XRP Coin Forecast
On Lark Davis’ agenda today XRP Coin There was. The analyst noted the price approaching an important multi-year support junction. The analyst says that $1.8 should be maintained as support in order to prevent the structure from deteriorating, and he still thinks that the upward trend continues.
There are three important details in the chart;
- Strong horizontal support going back years.
- Weekly 100 EMA.
- Located just below is the high volume demand zone ($1.80-$2).
The weekly candle close should not be below $1.8, but if this happens, the long-term double top formation will be confirmed. This situation may have devastating consequences for XRP Coin as the downtrend becomes dominant.
