On Friday, a Dutch trader and analyst @CryptoMichNL tweeted a positive forecast for the cryptocurrency market.
He believes that the market will stay bullish macrowise even if the Bitcoin price extends its correction down to the $6,000-$5,500 level and Ethereum would do the same, heading for $140.
However, the expert says, he is in doubt as to this turn of events. The upcoming Bitcoin halving in May 2020 and “a ton of other events” will prevent the bears from getting the market under control.
Even if $BTC goes to $5.500-6.000 (which I still doubt) and $ETH towards $140, this would make an uptrend and bullish market structure macrowise.— Crypto Michaël (@CryptoMichNL) October 4, 2019
And with the halving and a ton of events coming up I can’t simply be bearish on the macro perspective.
What do you think of the analyst's opinion? Is the Bitcoin price going to keep sliding or will it reverse and begin rising? Feel free to share with us in the comments to the article.