Crypto analyst Ali Charts said Bitcoin could reach the bottom of the current market cycle between Oct. 6 and Oct. 16, based on Bitcoin’s four-year cycle. In his view, investors should prepare a dollar-cost averaging plan in the $62,000 to $48,000 range before what he described as a final capitulation-style drop. He said BTC could be accumulated in batches across that zone rather than through a single entry. Ali Charts also argued that the current bear market is nearing its end and said now is the time to start turning bullish. The comments were shared in a post cited by ChainCatcher.
According to ChainCatcher, crypto analyst Ali Charts said in a post that, based on Bitcoin’s four-year cycle, BTC is expected to reach the bottom of the current market cycle between Oct. 6 and Oct. 16.
Ali Charts said investors should set a dollar-cost averaging strategy in the $62,000 to $48,000 range and accumulate Bitcoin in batches before a final capitulation-style decline arrives. He added that the current bear market is close to ending and said now is the time to begin turning bullish.
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