Experts: Bitcoin Will Reach $45,000 by May 20
K33 (formerly Arcane Research) analysts have forecasted that if the bear market pattern of 2018-2019 repeats in terms of duration and trajectory, Bitcoin will reach $45,000 by May 20.
The team has noted the “stunning similarity” of the drawdown and recovery waves observed three to four years ago and pointed out that hodlers have now, as then, survived the failure and have not been in a hurry to sell Bitcoin.
They have also referred to the current rise in quotes as a “hated rally” due to the feeling of “underloaded in the longs” among long-term investors after a “very traumatic year.”
2019-2020’s drawdown was 84% compared to 78% in 2022 and both cycles’ periods of decline lasted approximately 370 days, with the return from peak to minimum after 510 days reaching 60%.
Lastly, they have predicted that if the fractal continues, Bitcoin will peak around May 20 at $45,000.
