Bitcoin Bull Case For The Next Six Months

The king coin looks great today as well as the crypto market which is trading in the green. Check out the latest news about Bitcoin these days.

Bitcoin could remain bullish

It’s been revealed that Lyn Alden predicted that Bitcoin could stay bullish over the next 180 days.

During an interview with Kitco News, Alden said that despite the recent pullback that Bitcoin experienced after hitting a new record high, on-chain data supports a bullish outlook moving forward.

“Overall, the on-chain indicators generally look pretty bullish at this time. Overall I’d say that the bullish case is a lot stronger than the bearish case when looking out, say, six months.”

He also said that while Bitcoin could enter a bearish phase just like it previously has after halvings, the length of the bearish cycle could be different this time around.

“Whether or not we get a crypto winter will partially depend on how euphoric it gets in the first place. So in those prior crypto winters, you got extremely high euphoria in Bitcoin and other cryptos. Whereas I think here, by most indicators, you’ve not seen Bitcoin reach those lofty heights of euphoria that you’ve seen in prior highs.”

He continued and said:

“But if it were to get to a very high level, I do think you’d have a longer cool-off period. I just don’t know if it would last kind of the same length of time. It’s more about demand in my view, whereas supply is already getting pretty interesting how tight it is.”

Alden also said that the impact of Bitcoin halvings on price will decrease – the treason is the fact that the number of unmined coins has dropped dramatically.

“…Bitcoin has kind of reached the later stages of its distribution. So in those earlier markets, the amount of new supply Bitcoin was still pretty high.”

At the moment of writing this article, BTC is trading in the green and the king coin is priced at $61,655.08. Stay tuned for more news.

Previous ArticleNext Article
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.