Anonymous crypto researcher TechDev thinks Bitcoin (BTC) and digital assets are in a gigantic bear trap before the next step up.
TechDev shows his 467,000 X followers a graphic that demonstrates Bitcoin's market cycles start with “accumulation” and culminate in a bull trap.
The analyst also thinks USDT dominance in crypto marketplaces is gloomy, meaning stablecoins will soon be swapped for other digital assets, raising prices.
TechDev recently compared Bitcoin's price history to the Nikkei 225, Japan's largest stock index.
According to TechDev charts, Bitcoin might reach $760,000 between 2028 and 2029 before entering a multi-year bear market like the Nikkei in the 1990s.
TechDev was hopeful about the crypto market decline last month.
“Market fear is extreme. In the past two weeks, doomer bears made "told you" statements about a retest to $48,000 levels they stated would never be achieved at $25,000.
Just what I enjoy. Because global macro circumstances are improving, it was only two weeks of loud noise to me. Probably the past six months.
The crypto market doesn't go up until X is terrified, as is typical in speculative markets, but the previous two years have shown this more than ever. That was true at $15,000 after the FTX collapse, $20,000 when regional banks failed, $38,000 after the terrible post-ETF wick, and today.
Remember how much emotion may whiplash in two weeks. Expecting more. The global cycle keeps rising.”
Bitcoin is valued $54,435, up marginally today.
Follow Me On X
Follow me On | Substack
