Jiang Zhuer: “Bitcoin trend may turn bearish by September”

The CEO of the BTC.TOP mining pool, Zhang Zhuer, believes that buyers in the cryptocurrency market are fizzling out and by September, Bitcoin will begin a protracted decline.

Zhang Zhuoer expressed the opinion that the fall in the cryptocurrency market should begin between September 2021 and June 2022. Nobody knows the exact terms and it all depends on the market sentiment. This will be facilitated by an improvement in the economic situation after the mass vaccination against coronavirus.

Jiang Zhuoer, one of China’s big miners, told WuBlockchain that according to the latest multiple model studies, the fastest will be September 2021 and the slowest June 2022 will turn from a bull to a bear market. pic.twitter.com/g72wgYnYnu%0D%0A%09

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“Several CEOs of blockchain firms have said they expect Bitcoin to decline in the fall. The reason they call the economic recovery and the change in US monetary policy. True, some believe that if major players in the financial industry continue to buy bitcoin and ether, the growth of the cryptocurrency market will continue and the current “bull cycle” will drag on. Although it is not yet known about such plans, “a Chinese journalist under the pseudonym WuBlockchain quoted Zhoer as saying.

Zhuer also recalled that the market remains in short supply of mining equipment, including ASIC chips, which is a positive signal for bitcoin. Although supply chains are gradually recovering. Previously, a similar opinion was expressed by the popular cryptocurrency analyst Tone Vays. He believes that in the short term, bitcoin may still grow, but then a long and large-scale correction awaits him.

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