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    Home»Crypto»Bitcoin trough in 2018, crypto analyst says the worst of the bear market is over – but there are pitfalls
    Crypto

    Bitcoin trough in 2018, crypto analyst says the worst of the bear market is over – but there are pitfalls

    admin1By admin1January 5, 20232 Mins Read
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    The popular crypto trader, known for pinpointing the bottom of the 2018 Bitcoin (BTC) cycle, says the worst of the bear market is over.

    Pseudonym Cryptographic Analyst Smart Contracter To tell His 217,400 Twitter followers say market conditions are starting to improve, even as the start of the new year could bring new lows.

    “The worst of the crypto bear market is past. [the first quarter of 2023] But with FTX filing for bankruptcy and destroying nearly $2 trillion in wealth, it’s probably safe to assume that most of the crypto carnage is a thing of the past. Cheers to better times. ”

    He also To tell While there is a strong correlation between tech stocks and Bitcoin, the correlation becomes even more pronounced when comparing the performance of Tesla stock to Bitcoin.

    “Crypto has been correlated with technology for the past few years, but the BTC chart overlaid on TSLA is actually insane.”

    image
    Source: Smart Contract/Twitter

    At the time of writing, Bitcoin is worth $16,828.

    Looking at Ethereum (ETH), he To tell The smart contract platform is testing horizontal resistance at $1,226 but could break out to a new price range between $1,260 and $1,280.

    “ETH looks like it has finally hit its 4-hour horizontal resistance. Hopefully this dreaded low volatility holiday period is finally over.

    image
    Source: Smart Contract/Twitter

    At the time of writing, Ethereum is trading at $1,254.

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    Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.

    Generated image: In the middle of the journey





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