The post Top Analysts Predict Final Crypto Capitulation Before Major Recovery, Comparing 2024 to 2016 appeared first on Coinpedia Fintech News
The cryptocurrency market cap continued to shrink, with a drop of around 2.2 percent in the past 24 hours to hover about $2.45 trillion on Tuesday during the New York session. The ongoing cryptocurrency correction, which has triggered heavy crypto liquidation of nearly half a billion dollars, was triggered by the Bitcoin (BTC) price drop below $65k again in the past 24 hours.
Market analysts have argued that the recent notable cash outflows from US-based spot Bitcoin ETFs are a major contributor to the bearish outlook.
Is the Crypto Bull Cycle Over?
Bitcoin price has struggled to rally beyond $72k, thus signalling a possible double-top regarding the 2021 cycle top. According to veteran trader Peter Brandt, Bitcoin’s price against the US dollar could be forming a similar fractal with Gold’s price action after the 2009 market
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