2022 vs. 2026: Analyst Warns Bitcoin’s Recent Rally Could End in a Massive Crash

The primary cryptocurrency has staged a minor resurgence over the past week, with its valuation briefly rising to nearly $67,000 and now hovering around $65,000.

However, some analysts warn that this is unlikely to mark the start of a new bull run, envisioning a major collapse in the near future.

Same as 2022?

BTC, which plunged below $58,000 at the end of June, has rebounded by double digits in the following several weeks. And while bulls eagerly await the end of the bear market, the analyst who uses the X moniker BATMAN shut down that optimism.

They believe the cryptocurrency’s recent price increase mirrors the one from the autumn of 2022, which was followed by a massive crash to roughly $16,000.

“Side by side, this level looks concerning. It mirrors a similar bullish pump from 2022 that led to nothing afterward. History might not repeat itself, but it sure does rhyme,” they stated.

Of course, one should keep in mind that the drop below $20K at that time was driven largely by the meltdown of the once-prominent crypto exchange FTX: something that sent shockwaves through the entire digital asset sector.

… Continue reading the full article at the original source below.