Cryptocurrency analyst Colin Talks Crypto shared his updated assessment of Bitcoin’s potential trajectory over the next 12 months, and issued a particularly noteworthy warning about bullish expectations.
While many different scenarios are possible, the least likely scenario is for Bitcoin to climb directly to new all-time highs from here, according to the analyst. Colin Talks Crypto stated that he only gave this possibility a 20% probability.
However, he sees a more likely scenario as Bitcoin first experiencing a relief rally to the $100,000-$115,000 range, followed by a correction. Colin states that this correction could occur in two different ways:
- A shorter and mild correction of 6–8 months, followed by a strong rebound, particularly with the improvement in ISM data,
- A classic bear market cycle that can last around 12 months.
While the analyst said that these possibilities now constitute his base case, he warned investors against overly optimistic expectations, saying, “Bitcoin going to a new all-time high price level right from here is not the base case for me.”
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/one-analyst-turned-bearish-on-bitcoin-shared-the-scenario-he-expects/
