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Crypto currency analyst and strategist Cantering Clark, closely followed by crypto currency investors, made a striking comment about the market. Clark said that he expects a similar growth to 2019 for the cryptocurrency market.
“Current Outlook Resembles 2019”
The Flow Horse, also known as anonymous crypto currency analyst Cantering Clark, said that the current outlook resembles 2019 and that the cryptocurrency market could end the year on a positive note. For those who are unaware, 2019 was a year in which the cryptocurrency market left behind a gloomy 2018, witnessed the rise of decentralized finance (DeFi) projects, and laid the groundwork for major bull rallies in 2020 and 2021 at the peak of the COVID-19 pandemic:
Just keep thinking about 2019. Rest assured, you will be fine by the end of the year. Who knows what a bigger movement like COVID-19 will bring, but I imagine we will rise in the same way that we rose from this or that event being bought.
The analyst also stated that he is currently only trading Bitcoin (BTC) and said, “I am currently not interested in altcoins. The only thing I am trading due to the current situation is Bitcoin.”
Expecting a Short Squeeze in Bitcoin
Cantering Clark stated that he expects a short squeeze, or a short position squeeze, to occur after the recent surprise drop in the Bitcoin market and the retesting of the $25,117 level. He said the following:
I think the market has a weak chance of smoking this level after the first big test. It looks like the best area to trap sellers and probably the best place for contextual R:R (risk/reward ratio) to open a long position. I’m going to catch the falling knife.
Short squeeze occurs when the price of an asset rapidly increases as a result of many short sellers having to close their positions. As momentum moves against the short sellers, they are forced to buy back the asset, triggering further rallies.
