Bitcoin and most of the major altcoins may regain momentum to explode above $100k to reach highs of $400K in the next 9-22 months, according to BlockTower CIO. BlockTower Capital’s chief information officer, Ari Paul, has revealed his thoughts on the current bull run. He thinks that the ongoing bull run has at least nine more months before the crypto winter returns.
In a February 4 tweet, Paul said that the crypto space is currently in the 7th inning of the crypto bull run market. He said:
‘This is where we get ongoing, dizzying rotation. BTC up, then BTC takes a breather, ETH and some large caps (and in this regime, DeFi blue chips), then small caps, rinse and repeat. Of course, throw in some 30-60% retracements for fun.’
His sentiments referred to the general crypto bull market including Bitcoin. Paul started his bull market clock when the crypto market bottomed in 2018. He added:
‘I’m counting the bull market as starting from the all-time lows of the last cycle (end of 2018).’
He went on to explain in another post:
‘For everyone saying, ‘wait, this bull run has much further to go!’ it does. The start of 2017 was already the 5th or 6th inning of that cycle’s bull run.’
The 2017 bull run has been cited frequently on many statistics. This bull run marked a significant period for asset price prosperity for the crypto industry. At the time, Bitcoin recorded its first all-time highs close to $20,000. Later, the flagship crypto plunged below $10,000 in the 2018 market crash before recovering and breaking its 2017 record highs in mid-December 2021.
In that context, Paul has mentioned his thoughts on the current crypto bull run. While responding to one of his tweets, he wrote:
‘Time-wise, my guess is we have 9-22 month.’
On a different tweet, he added:
‘Price-wise, I guess that BTC will end the bull run between $100k-$400k and altcoins do better.’
Bitcoin Is Thriving
The BlockTower executive has clarified his opinion in a series of subsequent tweets. While noting the debatable nature of bull market timing, He wrote:
‘My baseball analogy is causing some confusion since there is no consensus on how to categorize phases of the bull market or even where it starts.’
Paul further added. He explained:
‘So let me throw out the analogy and walk through my thought on the market cycle and where we are today.’
Paul made his sentiments about how the crypto market has performed since 2018, including the Covid-19 Pandemic drop in March 2021.
While speaking about the current market, Paul has highlighted that further performance from altcoins may prohibit significant volatility from Bitcoin. He says:
‘As long as Bitcoin is consolidating, I expect adults to continue doing reasonably well.’
While strengthening his sentiments. He added:
‘At some point, BTC will start another parabolic move higher, and it’ll likely outperform altcoins on the move. That move will trigger the next surge in new money.’