Joseph Young, a crypto analyst and enthusiast explains the devaluation trend for bitcoin which took a toll for a whole year over the very crypto. Young explains how bitcoin was soaring to the all time high (ATH) at $1900 after losing the flight and dropping nose down to the ground of devaluation. Though there are certain events that we cannot predict, devaluation trends have been observed and analysts have collected data to judge the certain points. But nevertheless, this year long trend could not be predictable by the analysts and ones who study cryptocurrencies. This came to a shock to Young as he explains that it was imminent that after some point the crypto will eventually go down, but the devaluation train has been rolling quite stream lined and consistently, lately. BlockPublisher jumped to the plot in order to gather remarks, that have the crypto world all tensed up. Though the analyst believe that after such a disaster, the cryptos are sure to pull back even stronger.
Bitcoin ATH was $1900 and the coming 8th day will mark the day it rose to the ATH. Since the time the bear market stays intact. For the stats, bitcoin achieved ATH after a duration of 67 weeks on average. If we consider this, the 67th week would be the second quarter of 2019.
Young states quite a staggering statement predicting the future for bitcoin as to when it is supposed to rise back up again. This is depends upon the recent statistics but the thing is the crypto has been all unpredictable as per late. The bear market has never been this consistent as it was majorly dependent upon the availability of the cryptos. Now people come to know that there are other factors too that can affect the cryptos.
Young states that the ATH for bitcoin was $1900 which stood for some time and the devaluation started off and it did managed to stick for about a year. According to the study results analysts have gathered from the recent trends, bitcoin on average rises back up to the ATH after a tenure of 67 weeks. This is both a relief and a tense situation as people are confident that bitcoin will be back to the bull market and obviously to the ATH. The bad side of the discourse is that even after the 67 weeks, the crypto does not jump back it will be a absolutely disaster as the any financial asset which is unpredictable in such an extent, cannot be stated credible.