The cryptocurrency market and Bitcoin (BTC) lost the strong bullish momentum that they showed as the new year started in February. However, a crypto analyst known for his successful predictions thinks that another ‘strong’ crypto bull run may be ahead.
“We have a good chance of having a strong bull market for Bitcoin”
Known in the market for his accurate predictions, the crypto analyst nicknamed Filbfilb explains his views on possible future Bitcoin market cycles, history and more. The crypto space has seen many bull and bear markets since the industry started with the launch of Bitcoin BTC in 2009. Each overarching crypto bull and bear market was mainly tied to the price action and market cycles of Bitcoin, the largest, most established crypto asset.
The crypto analyst thinks that another major bull market of the crypto industry may remain. FilbFilb successfully predicted the $3,150, $6,500, $10,000 and $3,800 levels in Bitcoin price. For the analyst’s accurate predictions, see this article of Kriptokoin.com. Asked whether Bitcoin will continue to see bull and bear cycles, Filbfilb replied, “I think there will always be bull and bear markets. For whatever reason, there are bull and bear markets in every market.” In addition, the analyst, who continues his evaluations, underlines the following points for Bitcoin:
The biggest thing driving Bitcoin is speculation, and I think we’re still a speculative industry. I think we have a good chance of having another very strong bull market with crypto. Each cycle brings more people, more understanding, more acceptance of what it is trying to achieve, questioning around ethics as to why it exists, etc. brings.
Analyst has reservations about possible size of bull run
“So I believe we have gasoline to run another cycle in the tank,” Filbfilb adds. He then further elaborates on the rationale behind his view. However, he shares his reservations about the possible size of the bull run, pointing out that Bitcoin’s highs have become less dramatic over time, according to its logarithmic chart. The successful analyst also talks about his background, including his career path and more.
At press time, Bitcoin (BTC) was trading at $22,250, up 2.8% on a daily basis. However, the leading cryptocurrency has lost more than 4% on a weekly basis. However, it managed to protect this area, although it slumped below $22,000 for a short time in the last week.
5014
