The recent drop in the crypto market on Friday could signal the beginning of a bull run, according to a crypto trader.
“There’s a very strong possibility that we are at the start of a bull market,” crypto trader Alex Becker stated in a YouTube video released on Saturday.
“Selling at this moment might be the worst decision you could make,” Becker remarked. Jan3 founder Samson Mow supported this view in an X post the same day, stating, “It’s time for Bitcoin to move to the next level.”
Becker’s remarks followed a significant downturn in the crypto market on Friday, where Bitcoin (BTC) dropped over 10% to $102,000 after Trump’s 100% tariff announcement on China. The $19.31 billion in liquidations greatly surpassed previous losses seen, including the COVID-19 crash ($1.2 billion) and the FTX collapse ($1.6 billion).
The crypto market collapse “has reset everything”
This crash triggered significant concern in the global crypto community; however, Becker referred to it as a “huge overreaction,” explaining that the substantial wipeout “has reset everything.”
He suggested that traders had become disillusioned after Bitcoin experienced a year of gains while the rest of the crypto market lagged.
“I believe that is about to change,” he said. “This situation has driven people to madness, and we’ve seen market makers flipping levers back and forth,” Becker noted, adding:
“Every action they take in the market elicits an overreaction of three to four times, because people simply won’t wait a few months for the gains they need.”
Becker attributes the sharp correction to the “extreme impatience” among investors recently.
Analyst predicts Bitcoin’s short-term price increase
Bitcoin hit a new high of $125,100 on Monday, yet it still falls short of the $250,000 year-end predictions made earlier this year by figures like BitMEX co-founder Arthur Hayes and Unchained’s market research director Joe Burnett.
Related: Market downturn ‘does not have long-term fundamental consequences’ — Analyst
Crypto analyst Benjamin Cowen shares the same positive outlook as Becker. “I still believe it will continue to rise in the short term,” Cowen mentioned about Bitcoin, highlighting Bitcoin Dominance’s reclamation of 60% on Friday.
Economist Timothy Peterson took a more cautious stance, informing Cointelegraph on Sunday that Bitcoin will likely face a three to four-week “cooling off period” before resuming its rally, “but perhaps at a slower pace than previously observed,” he added.
The broader industry remains skeptical, with The Crypto Fear & Greed Index, which gauges overall market sentiment, reporting an “Extreme Fear” score of 24 in its latest update on Sunday.
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