Bitcoin enters final phase of major uptrend, crypto analyst says

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Cryptocurrency trader and analyst Alessio Rastani believes Bitcoin (BTC) is entering the final stages of the current bull market, which will propel the leading cryptocurrency to a price target of $ 100,000.

To explain his prediction, Rastani cited Elliott’s wave theory, which divides upward price trends into five waves. Rastani believes we have entered the final wave of an uptrend that started in early 2019 and is expected to peak at some point next year.

When this five wave move is over, I expect a bear market, he said.

Citing research from behavioral finance expert Jason Goepfert, Rastani predicted that the next Bitcoin bear market could coincide with a broader downtrend in traditional markets, which could occur over the next two years. Rastani pointed out that Bitcoin would be negatively affected by a market correction, given that stocks and BTC are risky assets.

When there is an appetite for risk, both markets go up. But when there is a weak appetite, when there is little appetite for risk, it goes down.

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