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Analyst Joe Bargain assured that the cryptocurrency market is in the stage of deep correction. He told about his expectations regarding the rate of the flagship currency Bitcoin (BTC) and other virtual assets. According to the expert, in the near future we should not expect an increase in the value of a key digital asset. However, in a global sense, the cryptocurrency industry will grow.
He expressed confidence that in the near future the BTC rate will fall to new local lows. According to Bargain, the time for change has not yet come and the market has again entered a certain phase of the four-year cycle. The analyst is confident that the value of the digital aeolot will fall and overcome the mark of $ 20,000.
The expert stressed that he sees at this cut-off a local price minimum for bitcoin. He also told the further scenario of the development of the situation. According to him, the capitalization of the market will fall until the end of 2022. Then a small surge in the form of a correction in the spring of 2023 and a further bearish rally are expected.
Bargain recalled that the next halving of bitcoins is scheduled for July 2024, which means that in March-April the cryptocurrency rate will reach its minimum. According to the expert, investors will be able to purchase a virtual asset BTC at a price of $ 10,000 and below. He stressed that he would put buy orders exactly next to this value.
After the rewards for mining are halved, the value of the leading cryptocurrency will begin to grow rapidly and reach new highs within one year.
Earlier, the editors of Crypto.ru reported: Bargain predicted a positive future for the cryptocurrency industry. He noted that the market is going through difficult times, but sooner or later they will end. The analyst stressed that he does not see any global cause for concern.
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