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The analyst predicted the onset of a global “bear market”

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Trader Alessio Rastani believes that bitcoin has entered the final stage of growth, which has been going on since 2019

The analyst predicted the onset of a global bear market

Trader and analyst Alessio Rastani in an interview with Cointelegraph expressed confidence that the cryptocurrency market is on the verge of a global “bearish trend”. According to Rastani, at the moment bitcoin has entered the final (fifth) stage of the bull market, thanks to which the asset will be able to increase its value to $ 100 thousand. The trader claims that the current “bullish” trend began in 2019, and will end next year.

“When this five—wave movement ends, I expect a bear market,” Rastani explained.

The analyst believes that the decline in the crypto market may coincide with a downward trend in the market of traditional financial assets. According to Rastani, the correction of the traditional financial market may come in the next few years. The downward movement of the stock market will negatively affect cryptocurrencies, Rastani added.

On the night of October 16, the price of bitcoin exceeded $62.9 thousand for the first time in the last six months. The last time the asset was traded at this level was in mid-April, when its value updated the historical maximum at around $ 64.8 thousand.




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