Bitcoin ( BTC) and altcoins’ bullish period has been considered a bull trap by several popular analysts.
From the first day of the new year bitcoin Along with strong bullish candles, it also revives the markets. Especially in the last week, the rise experienced by altcoins has also increased the bull expectations. aptos , 3-4 dollars As a result of the rise that started from the levels, it managed to reach the new highest peak. This bullish wave has been considered a bull trap by several popular analysts in the crypto industry. According to analysts, the rises do not indicate a possible bull start.
Analysts See Bitcoin (BTC) Rise as a Bull Trap
Bitcoin ( BTC) side, 14 consecutive days of price increasesand Tendency to top 18 weeks drew attention. In particular, the rise of the global economy has created a bull mood in the crypto sector.
The rise in BTC price managed to encourage altcoins as well. Almost all altcoins have bottomed out close to 75 percentthey had a rise.
Australian based FinTech firm in Findercryptocurrency analyst James Edwards interpreted the rise in the entire crypto industry as a bull trap. Edwards warned investors that the bullish tide could be short-lived.
Also on Twitter more than 700 thousandpersonal analyst Crypto Capo, BTCHe said the rise on the side is the biggest bull trap he has ever seen. capoHe stated that the rise in the crypto market, which has risen with manipulations, will not be permanent.