Cryptocurrency trader and analyst Alessio Rastani believes that Bitcoin (BTC) is entering the final stage of the current bull market, which will propel the leading cryptocurrency to a price target of $ 100,000.
To explain his prediction, Rastani cited the Elliott wave theory, which splits upward price trends into five waves. Rastani believes that we have entered the final wave of an uptrend that started in early 2019 and should peak sometime next year.
"When this five-wave move is complete, then I expect a bear market," he said.
Citing research by behavioral finance expert Jason Goepfert, Rastani predicted that Bitcoin's next bear market may coincide with a broader downtrend in traditional markets, which could arrive "in the next few years." Rastani noted that Bitcoin would be adversely affected by a stock market correction, given that both stocks and BTC are risky assets.
โWhen there is an appetite for risk, both markets go up. But when there is little appetite, when there is little appetite for risk, they go down. "
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