FX.co ★ Bitcoin: Crypto bulls have 3-6 months before upside rally ends

Bitcoin's attempt to take the level of $50,000 per coin has not yet been successful. However, the market has not yet closed, and the weekend is ahead - days when, according to observations, breakouts happen.

Against this background, the previous forecast about the two scenarios does not lose relevance. Either BTC/USD will come out of the sideways upward, consolidating above the psychological level of $50,000, or it will go down in the sideways downward.

In the first case, the nearest target will be the zone of 52,000.18 - 52,929.55, and after its passage, it will be possible to talk about growth to a historical maximum. But if BTC/USD turns around in the sideways 46,299,48 - 50,513,53 down, consolidation before the next impulse may be delayed.

While we are waiting for clarification on this issue, let's see what influencers think about the future of Bitcoin and the bull market of cryptocurrencies.

For example, Lark Davis, a long-term bitcoin investor, notes that the bullish euphoria is likely to end in a few months. But the next bearish stage in the market will be less severe.

Davis believes the bitcoin bulls have three to six months left before the upside rally ends. He draws such conclusions based on previous observations and the growing maturity of the cryptocurrency markets.

The investor notes that as markets become more mature and resilient to manipulation, cycles lengthen and returns become less and less impressive. Against this backdrop, bearish periods and phases of accumulation are also shrinking. As more and more money flows from traditional to digital, the next bearish phase will be different from the 2018 crypto winter.

Meanwhile, Euro Pacific Capital CEO and gold aficionado Peter Schiff criticized Bitcoin for losing market share.

It's worth noting that at the end of December 2020, Lunarcrush announced Schiff as the second-largest Bitcoin influencer.

On his Twitter, Schiff wrote that the flagship cryptocurrency is losing dominance, as it has to compete for market share with almost 12,000 other cryptocurrencies.

Therefore, Schiff believes that the supply of altcoins will ultimately surpass any current demand.

In another tweet, the investor admitted that Bitcoin has been beating gold for the past 10 years. Not only gold, but bitcoin has surpassed all other traditional asset classes in the same period. But that doesn't prove that BTC is better than gold, stocks, real estate, or any other asset that it has outperformed in profitability.

Bitcoin is really growing less now than ether, but it is unlikely that the second cryptocurrency will be able to outshine it in the near future. As for other altcoins, JP warned investors that their rally is now making the market more dangerous and foamy.