The recent dips in the prices of Bitcoin and alternative cryptocurrencies (altcoins) have sparked discussion among analysts in the crypto community. Two prominent voices, Lady of Crypto and Titan of Crypto, have shared their perspectives on the market movements.
Lady of Crypto, a respected analyst with the Twitter handle @LadyofCrypto1, acknowledged that the Bitcoin dip or sideways movement was expected, as similar patterns have occurred after the last two halvings. A halving is an event in the Bitcoin network where the reward for mining new blocks is reduced by half, occurring roughly every four years.
Regarding altcoins, Lady of Crypto expressed surprise at the severity of the dip, describing it as “pretty brutal.” Despite the market volatility, she remains committed to her investment strategy, stating, “My game plan remains unchanged.” Drawing from past experiences of being “shaken out on dips in 2019 and 2020,” which she now considers a “huge mistake,” Lady of Crypto has become “numb to these sorts of moves.”
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On the other hand, Titan of Crypto, with the Twitter handle @Washigorira, maintains a bullish outlook on the cryptocurrency market. “I believe we are in a bull run, and that dips are temporary,” he stated, asserting his long-term bullish stance and his determination not to be “shaken out.”
Titan of Crypto delved into technical analysis, examining the monthly Bitcoin chart. He noted that Bitcoin closed the monthly candle below the $61,300 level, which was a crucial level being monitored. While acknowledging the possibility of manipulation, he pointed out that the 2-month chart has printed a reversal candle from a technical perspective.
However, Titan of Crypto emphasized that this does not necessarily signal the end of the bull run. In his analysis, during bull runs, Bitcoin generally retraces to the 38.2% Fibonacci retracement level, also known as the “1st stop,” which lies at around $51,600. As long as this level holds, Titan of Crypto believes the bull market remains intact, stating, “As long as the 1st stop holds, the bull market is still on.”
Titan of Crypto’s analysis suggests a potential Bitcoin correction to $51,600, followed by a subsequent rise to $110,000, if the bullish trend persists.
