One of Binance’s famous traders, “Tree of Alpha“, shares tips about their long-term prospects. The popular trader says he remains “bullish” despite the unexpected turmoil in the cryptocurrency market.
Tree of Alpha’s long-term prospects for the cryptocurrency market
The famous trader said in a recent tweet that the market remains “bullish and strong” despite the crisis environment. The sudden correction that occurred during the week had wiped out nearly $100 billion from the total market capitalization. It also resulted in the liquidation of nearly $500 million worth of positions on exchanges. As we reported as Kriptokoin.com, the drop was triggered by two critical Fud news.
Recently, the crypto money market has been following a very volatile course. This situation drove many traders away from the market. However, Tree of Alpha continues to seize bullish opportunities even as crypto prices fall.
The week of April 24 surprised many investors with unexpected market corrections. The rapid decline in market value and long position liquidation again highlights the volatile nature of the market. Alpha says the long-term outlook will yield results at this point.
Tree of Alpha continues to hold long positions
Experienced traders often take a long-term view in the volatile cryptocurrency market. This approach helps them dodge short-term fluctuations and maintain their position in times of uncertainty. Tree of Alpha continues to follow this strategy, maintaining its long position and staying “strong” despite the market turmoil.
Still long and strong.
— Tree of Alpha (@Tree_of_Alpha) April 27, 2023
PlanB expects activity before Bitcoin halving
Closely followed crypto analyst PlanB suggests that Bitcoin will experience explosive growth with next year’s “halving” event. The analyst claims that Bitcoin will follow the S2F model and reach $200,000, increasing more than 588% from its current value.
The Stock-to-Flow (S2F) model is based on the theory that Bitcoin’s performance will improve as it becomes scarcer. With this model, PlanB predicted that Bitcoin would exceed $100,000 in 2021.
2024 halving cycle is going to be very interesting.
Or 2022 was an outlier and 2023+ will revert to S2F model line. Or there is a non-linear relationship between S2F/halving and price, diminishing return. IMO 2022 was an outlier and exponential growth will continue until ~50%… pic.twitter.com/ru5kyli0xY— PlanB (@100trillionUSD) April 27, 2023
According to PlanB, the halving event in April 2024 will be a catalyst that will drive the price to ATH levels. The analyst predicts that with wider adoption of Bitcoin, its value will increase even more. He estimates that while there are currently 56 million millionaires worldwide, only one million individuals own Bitcoin.
“Cryptocurrency market may outperform gold”
PlanB also states that Bitcoin outperforms gold and stocks when liquidity is injected into the markets. He says that over the last 10 years, gold has been performing flat, with stocks trebled, but Bitcoin up 10,000 times.
In short, Bitcoin’s value will experience explosive growth next year, according to PlanB. Meanwhile, the altcoin market will also experience a strong bull with adoption. Behind these claims lies the S2F model and Bitcoin’s reaction to liquidity. In the meantime, it should be noted that the Plan previously predicted that Bitcoin will rise to $532,000 after the 2024 halving.
48573
