If you are following our cryptocurrency news, you probably know that every moment in the highly volatile crypto market is an intense one. The prices can skyrocket and then bleed out in a matter of seconds. According to one analyst, next week may be the most critical week that the market has seen ever – for both Bitcoin and altcoins.
The future of the markets will be shaped depending on what happens next, the analyst states. So far, we know that 2019 has been a strange year for the crypto market. After the 2017 bill run ended, it ended with a massive bubble pop which led to a long, arduous bear market sawing as much as 99% of the crypto assets eliminated in short order.
Even though Bitcoin plummeted over 80% before reaching its bear market bottom in December 2018 at roughly $3,100. This situation can change and next week could be the most critical one for the markets.
We are talking about the analyst @888Velvet on Twitter, who said that “if everything goes to plan, we will see an altseason in October.” However, he also pointed that Bitcoin’s next move is what is most important at this point.
“This week will be the most important week for the future of #Crypto!” the analyst said, hinting on next week’s performance in the markets.
👉 This week will be the most important week for the future of #Crypto!
Good luck! https://t.co/XQ1xKUDR5d
— 𝓥𝓮𝓵𝓿𝓮𝓽 📊🏴☠️ (@888Velvet) September 25, 2019
We can see that the Bitcoin price is collapsing and that the market is overall in a critical junction. According to the analyst, not only next week will be important for Bitcoin and the market – it may also be “the most important week for the future” of the entire market and industry.
If we dig deeper, we will see that this analyst bases the idea off a chart that is depicting the total altcoin market cap. With the current crash pausing at the 0.78 Fibonacci retracement level, the analyst believes that “if everything goes to plan” and the altcoin market bounces, we will see a proper alt season in October this year.
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