Over the past few days, the crypto market has seen extreme levels of volatility. The general sentiment of investors has flipped to extreme fear, and now is the time to capitalize on the disarray in markets. We continue to remain bullish on altcoins as Bitcoin has still been able to hold above $30,000, while Ethereum has been able to hold above $2,100.
We feel strongly that the stock and crypto markets will have a rebound after weeks of selling off. Bitcoin should continue its rise to $60,000 and will as a consequence bring up the altcoin market with it. We expect to see a continuous rally in stocks and crypto into June. There will be a short window for us to capitalize on our altcoin positions, and it is important to keep greed in check.
Following our altcoin rally, we are expecting Bitcoin and Ethereum to enter a multi-month bear market that has the potential to extend into 2023. We expect to see BTC and ETH bottom out near their weekly 200-daily moving average. Bitcoin should see a low of $22,000, while Ethereum should decline to $1,200.
