Highly respected equity research analyst and investment strategist Lyn Alden said in a recent interview that the Bitcoin bulls have a stronger case than the bears over the next six months.
During an interview with Kitco News on October 26, the founder of Lyn Alden Investment Strategy highlighted on-chain data that pointed in a bullish direction for Bitcoin and the crypto markets. The analyst said the data was looking “pretty bullish” at this time and would likely beat out a bearish scenario for the next six months.
As reported by The Daily Hodl, She explained:
Overall, the on-chain indicators generally look pretty bullish at this time. Overall I’d say that the bullish case is a lot stronger than the bearish case when looking out, say, six months.
The macro investment strategist was open to the possibility for a bear market in Bitcoin’s future, but predicted the price downturn would be different from previous “crypto winter” cycles in the past. Alden said the bear cycle would partially depend on how “euphoric” the market gets in the lead up, indicating that previous price busts were the result of investor-driven mania.
She continued:
So in those prior crypto winters, you got extremely high euphoria in Bitcoin and other cryptos. Whereas I think here, by most indicators, you’ve not seen Bitcoin reach those lofty heights of euphoria that you’ve seen in prior highs.
Alden predicted that a massive price run for Bitcoin would lead to a “longer cool-off period,” but ultimately concluded it would not be as long as previous crypto winters. She said demand was very high with Bitcoin’s current mainstream status relative to the coin’s “tight” supply — a feature that would continue to be magnified with future halvings.
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
