{"id":39529,"date":"2022-12-28T18:06:50","date_gmt":"2022-12-28T18:06:50","guid":{"rendered":"https:\/\/egrowonline.com\/?p=39529"},"modified":"2022-12-28T18:06:50","modified_gmt":"2022-12-28T18:06:50","slug":"bitcoin-altcoins-and-crypto-markets-set-for-major-unexpected-bounce-in-2023-according-to-popular-analyst","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=39529","title":{"rendered":"Bitcoin, Altcoins and Crypto Markets Set for Major Unexpected Bounce in 2023, According to Popular Analyst"},"content":{"rendered":"


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A popular crypto analyst thinks Bitcoin (BTC<\/a>) and the broader altcoin markets could start to bounce back next year.<\/p>\n

In a new analysis, pseudonymous trader TechDev says that the crypto correction actually began in the second quarter of 2021, rather than the fourth quarter of that year after Bitcoin hit its all-time high.<\/p>\n

\u201cWe start with the altcoin market cap, where I view the market divided into a cyclical set of regions, Correction > Accumulation > Markup. The below chart should indicate why I believe we\u2019re in accumulation, and that markup is expected next.<\/em><\/p>\n

It also serves as further evidence of the correction starting Q2 2021, breaking the local RSI uptrend just as the correction before.\u201d<\/em><\/p>\n

\"\"
Source: TechDev<\/figcaption><\/figure>\n

RSI stands for relative strength index, a metric analyzing the crypto asset\u2019s candle oscillation over 14 periods.<\/p>\n

TechDev thinks the broader market structure mimics late 2016\/early 2017.<\/p>\n

\u201cIt\u2019s just taking 1.5-2x longer to develop, as has the rest of the structure thus far.\u201d<\/em><\/p>\n

The analyst says Bitcoin has tended to follow the global liquidity \u201ccycle.\u201d TechDev thinks this cycle is portrayed by charting the Chinese 10-year bond yield (CN10Y) over the US dollar index (DXY).<\/p>\n

\u201cNote the clear cycle in this chart which has a peak-to-peak timing of roughly 3.4 years that has been printing long before Bitcoin existed.<\/em><\/p>\n

Each local top in CN10Y\/DXY marked or led a major impulse top in Bitcoin, and each local upside reversal marked or led the start of a major Bitcoin impulse.\u201d<\/em><\/p>\n

\"\"
Source: TechDev<\/figcaption><\/figure>\n

The analyst says the chart\u2019s local tops have been \u201csteadily declining along a trendline\u201d since 2014.<\/p>\n

\u201cIts next hit could anticipate the next Bitcoin\/crypto top. Cyclical timing over the last 20 years suggests this could be around the late 2023-mid 2024 timeframe.\u201d<\/em><\/p>\n

Read TechDev\u2019s full newsletter here<\/a>.<\/p>\n

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n

Featured Image: Shutterstock\/TadashiArt\/Natalia Siiatovskaia<\/em><\/span><\/p>\n<\/p><\/div>\n


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A popular crypto analyst thinks Bitcoin (BTC) and the broader altcoin markets could start to bounce back next year. In a new analysis, pseudonymous trader TechDev says that the crypto correction actually began in the second quarter of 2021, rather than the fourth quarter of that year after Bitcoin hit its all-time high. \u201cWe start […]<\/p>\n","protected":false},"author":1,"featured_media":39530,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[200,646,50,210,62,650,89,587,423,935],"class_list":["post-39529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-altcoins","tag-analyst","tag-bitcoin","tag-bounce","tag-crypto","tag-major","tag-markets","tag-popular","tag-set","tag-unexpected"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/12\/Bounce-in-2023-crypto.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/39529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39529"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/39529\/revisions"}],"predecessor-version":[{"id":39531,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/39529\/revisions\/39531"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/39530"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39529"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}