'Crypto winter is over, completely, but not yet bullish', analyst says

06 May, 2019 | Updated: 06 May, 2019
by Joeri Cant
News
'Crypto winter is over, completely, but not yet bullish', analyst says

eToro’s in-house crypto analyst and industry commentator, Mati Greenspan, said that BTC has surpassed a long-term bear trendline, indicating that the bear market is over 'completely'. This doesn't mean he turned bullish just yet.

Senior analyst for eToro, Mati Greenspan, said in a recent CoinTelegraph Youtube, that Bitcoin has surpassed a long-term bear trendline, which indicates that the bear market is completely over.

However, Greenspan points out that there is still potential for Bitcoin to experience the second half of the Bart Simpson pattern, which could spell a dramatic sell-off to the low-$4,000s in the next few weeks.

He adds that the Tether and Bitfinex 'fraud' news could still potentially end up in a so-called black swan event, in which the entire cryptocurrency market could crash.

Greenspan isn't the only one who believes the 2018 crypto winter has run its course.

Previously Chepicap reported that Digital Currency Group founder and CEO Barry Silbert, stated in an interview for Yahoo Finance, that crypto winter is over.

Followed by Clem Chambers, CEO of investment website ADVFN, and contributor to Forbes, who recently wrote an op-ed in which he as well claimed the crypto winter is over. The investment CEO stated several reasons as to why he believes that Bitcoin is the new gold. His first reason: 'crypto is out of the bear market'.

All positive sentiments about the end of the 2018 crypto winter, however, founder of secure identity ecosystem CIVIC, Vinny Lingham, doesn't seem to agree.

The Civic founder explained in a Twitter thread that he doesn't believe this rally is sustainable for one reason: 'The market has not yet decoupled the various crypto assets from Bitcoin.'

It is only fair to point out, that although Lingham always has an opinion about what BTC is doing, he often gets it completely wrong.

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