Prominent crypto commentators on Twitter, including CryptoCapo_, say bitcoin will soon resume the broader downtrend, repeating the sharp slide seen in the late 2018. reports godbole17.
To bears, the current lull is reminiscent of September-October 2018, when the largest cryptocurrency held steady near $6,000 for weeks before slumping almost 50%.to his 540,000 followers that much like the 2018 consolidation near $6,000, current trading around $20,000 represents a temporary pause that will pave the way for another price sell-off.
The current price structure appears similar to that of mid-November 2018, with prices consolidating near $20,000 for nearly three months after a sell-off from the record high of $69,000.and other alternative cryptocurrencies have recently rallied, shrugging off the comatose action in bitcoin – perhaps a sign that there is still some speculative interest left in the market. XRP and other smaller coins saw occasional rallies during BTC's price consolidation in 2018.
and the rising dollar index , favor a resumption of the downtrend. It's worth noting that previous bear markets have coincided with the dollar rally. The DXY rose over 4% in 2018.