The analyst draws his conclusions based on the Elliott Wave Theory, a sophisticated technical analysis of asset behavior that takes into account crowd psychology.
Earlier, an analyst under the pseudonym DonAlt also said that bears are setting the trend of the cryptocurrency market.
Henrik Lindqvist is our DeFi and on-chain reporter, splitting his time between Stockholm and London. A former software engineer at Klarna, he switched to journalism in 2021 and has since broken stories on MEV exploits, restaking risks and Layer-2 economics. Henrik writes the BTCNews weekly Layer-2 newsletter and has lectured on blockchain architecture at KTH Royal Institute of Technology.
