Forecast for BTC and ETH from the CEO of one of the largest mi | Easy Crypto Blog

Forecast for BTC and ETH from the CEO of one of the largest mining pools BTC.TOP

If Bitcoin's price hit its low ($15,500) in 2022 due to the FTX crash, it took all three bear markets the same amount of time from the previous ATH to the bottom of the cycle.

Based on market sentiment observations, we are in the last bear market sideways trend. Events such as the DCG bankruptcy are already priced in and will no longer have a significant impact on price.

According to optimistic forecasts, the market of 2018 and 2022 are similar. In that case, the BTC price may trade sideways for a few more months.

In the pessimistic scenario, the current bear market is similar to the 2014 market. Then BTC would need about 8 months of sideways trading near the bottom before it starts to grow substantially.

As for Ethereum, it's much stronger because of the combustion and low inflation at 0.01% thanks to PoS. And this is in a bear market when activity on the ether network is very low. Also after the collapse of FTX, Ethereum has not renewed its summer bottom but has held above $1100.

The price will eventually be determined by the capital, and the deflation of ETH is very favorable for the capital and will affect the price. From this data, we can conclude that the ETH bull market will start in a spiraling deflationary mode: more deflation - more network activity - more deflation...

I expect ETH to start rising earlier than BTC as the leader of the next bull market. The price of ETH will move beyond the current lower range. This could happen between March and May 2023.