The recent Bitcoin halving event has led to a debate on whether the bull market has ended or if it's just a healthy correction. Two analysts, Stockmoney Lizards and CryptoMichNL, offer different viewpoints on the future of Bitcoin and altcoins.
Stockmoney Lizards believe that the current downtrend in Bitcoin is a necessary correction and not the end of the bull market. They point out key indicators such as the 1-year simple moving average and various support levels to suggest that Bitcoin is still in a bullish trend and could reach prices above $200,000 in the next few years.
On the other hand, CryptoMichNL focuses on the potential for altcoins to rebound after the Bitcoin halving. He argues that altcoins have experienced a significant drawdown in BTC valuations, presenting an attractive opportunity for investors. With Ethereum breaking through resistance levels, he predicts a longer cycle for altcoins with increased liquidity requirements.
Both perspectives highlight the importance of considering different narratives and indicators when making investment decisions in the cryptocurrency market.
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