Top Trader Says 2019-Style Market Expansion Coming to Crypto Markets – Here’s His Timeline

A closely followed crypto strategist is predicting a massive expansion for the digital assets market similar to what occurred in 2019.

The pseudonymous analyst known as The Flow Horse, or Cantering Clark, shares with his 182,300 followers on X that there's potential for a positive conclusion to the crypto market this year.

In 2019, the cryptocurrency markets made a strong recovery from a challenging 2018 and witnessed the rise of decentralized finance (DeFi) projects, paving the way for significant bull runs in 2020 and 2021, amidst the COVID-19 pandemic.

"Just think back to 2019, and you'll likely navigate the rest of the year successfully. While it's uncertain what might trigger a large move akin to the COVID-19 situation, I expect we could see something similar in one form or another, with similar buying activity."

The analyst also mentions that he is presently exclusively trading Bitcoin (BTC).

"I'm not currently interested in altcoins. BTC is the only cryptocurrency trade I'm considering, primarily due to its current position."

He anticipates that following the recent sudden correction in the Bitcoin market, a short squeeze could occur after testing the $25,117 level.

"I believe the likelihood of the market breaking through this level upon the initial test is low. It appears to be an opportune zone to catch sellers, and arguably the most favorable spot in terms of long-term risk/reward ratio. I'm willing to take a calculated risk."

A short squeeze happens when traders borrow an asset at a certain price in hopes of selling it for lower to pocket the difference but are forced to buy back the asset as momentum moves against them, triggering further rallies.

Bitcoin is trading for $26,200 at time of writing, up 1.3% in the last 24 hours.

Sep 15, 2023