A closely followed crypto analyst says that equities and crypto markets are set to rally in tandem on another upcoming leg up for risk-on assets.
The pseudonymous analyst known as TechDev, known for longer-term technical analysis, tells his 399,000 Twitter followers that Bitcoin (BTC) and the stock market are still in a bullish impulse that he thinks will continue in 2023.
“When equities run, Bitcoin runs.
And I expect the steepest equities leg of the last 40 years to run into 2023.
After that, potentially a big test for Bitcoin and crypto.
My opinion of course.”
According to TechDev, BTC’s technicals are hinting that after a rally into next year, a correction and then yet another bull run into 2025 is in the cards.
“In a vacuum, Bitcoin’s chart makes the argument for a run into 2023 + sideways 2023-2024 correction + run into 2025.
But even the potential of a 2023 secular equities top will have me watching from the sidelines in 2024 to see just what degree of correction we’re in...
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