Analyst: BTC will start the final phase of the bull market

A cryptocurrency analyst and trader nicknamed BTC Jack recently said that the world’s most important cryptocurrency is on the verge of starting the final phase of the bullish trend.

BTC to the Moon

Popular trader and analyst BTC_Jack Sparrow, better known on Twitter as BTC Jack, recently came up with an interesting analysis. He told his nearly 210,000 followers that BTC was about to launch the fifth and final wave of the bull market.

A bullish trend in the world’s most important cryptocurrency could occur, assuming the asset follows a model similar to the rocket growth cycle in 2013 and 2017. On Twitter, BTC Jack said:

Based on the previous two BTC cycles, current cycle is short of a top and each final fifth wave originated at the previous two green arrows

Exactly where we are positioned right now

Coincidence? Maybe…

The analysis is based on Elliott’s wave theory, which is used to predict future price actions based on crowd psychology. According to his theory, the fifth wave represents the last phase of the bull market, in which this digital asset will experience rocket growth.

BTC Jack has long argued that BTC will climb to $ 380,000. As for the world’s second largest cryptocurrency, ETH said he could rise to $ 3,050 in the near future.

Conclusion

We can only wait to see if the famous analyst’s prediction comes true. However, the growth of BTC is good advertising for the entire cryptocurrency industry. You can find out more about the development of cryptocurrency prices in our regular technical analyzes.