One cryptocurrency analyst Ben Armstrong says he can calculate when the Bitcoin bubble will burst. If he is right, the bull market will end much faster than many investors currently think.
Ben Armstrong: the bubble is over
Ben Armstrong, known in the industry as BitBoy Crypto, believes that while the cryptocurrency bubble is still ongoing, BTC holders should already be prepared for its final. Be very careful now!
– [W 2017 r.] I’ve watched my portfolio grow just to [w 2018 r.] was completely destroyed. Why? Because I didn’t understand the psychology of the market at the time. (…) At the moment when you don’t want to sell the strongest [od początku cyklu]then it is wise to go out – stated.
He claims he knows when the bubble will burst.
– It may be a week or two before or after [tej dacie]but the period in late September is exactly when you should be wanting to sell BTC – He said.
The ratio of 51 to 49 percent.
Armstrong added that he based his forecasts on The Golden Bull Cycle Ratio, an indicator developed by TradingShot, a group that generates data on TradingView. The chart is based on past Bitcoin bullish cycles. It helps to count how long the next cycles will take.
– 51 percent the boom runs from the bottom of the market to Bitcoin halving, which occurs every 210,000 blocks produced. Then 49 percent. the boom lasts from the day of halving to the very top of the market. When you set the dates, it is 504 days from May 11, which is the day you cut it in half [nagrody] in 2020… This gives the date September 28th [jako czas końca bańki] He warned.
Currently, many analysts say that the boom may last until the end of the year. While there’s no guarantee that history will repeat itself in full, Armstrong points out that this cycle looks eerily similar to that of 2017, meaning the real parabolic Bitcoin raid has yet to start.
– When you put the current bullish on the last cycle, you’ll match it almost perfectly – He said. – We have not yet gone beyond the parabola, so there is no reason to believe that anything other than normal is going to happen He added at the end.