Proponents of the cryptosphere have always given voice to the industry, be it during the bear market or the bull market. Bitcoin’S [BTC] recent bullish spike sparked the cryptoverse back into life, with many users and luminaries calling it a positive development.
In a recent interview with Ran NeuNer, Richard Heart, famous Bitcoin billionaire, spoke about the future of Bitcoin’s price and the predicted end of the sustained bear market. Heart said that the recent spike was a sign of the “beginning of the end.” In his words,
“Even in the past, especially during the last bear market, we had a good bounced after which the prices chopped around horizontally. This is what the market is doing right now too. After the chopping, there is usually a capitulation candle which is the mark when a lot of people buy in.”
Heart added that the current price was not the point where traders buy in because they would prefer buying it when it capitulated. According to Heart, institutional investors can FOMO a bit harder and easier now. He added,
“If we don’t have the bull run right now, then come October and the price increase will be awesome. We will also start seeing the capitulation candles soon. I have a feeling the price increase will slow down a bit if a lot of institutional investors jump onboard the cryptocurrency industry.”
Heart opined that he would buy into Bitcoin again when the world’s largest cryptocurrency hits the $3000-$4200 mark because “for bitcoin history tends to repeat itself.” He added that “Bitcoin will do in the future what it has done in the past,” a statement that he backed up with BTC’s behavioral analysis. He said,
“Just like what Bitcoin did in the past, it will have a long horizontal stretch [it as 120 days last time around] after which you will see the chop. One thing we have to understand is that there won’t be any instant bull run and if anyone bought BTC during the recent fakeout, they would have been rekt by around 30 percent. If you buy Bitcoin right now, prepare to get rekt.”
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