Bitcoin (BTC) may get another 50% before seeing a mass sell-off to finish its bear market, brand-new research predicts.In the current

edition of its routine markets newsletter,”The Crypto Circular,”trading firm QCP Capital delivered a grim warning to those who think that crypto winter is over.Research warns of”final Wave 5 sell-off “Bitcoin has actually amazed by keeping new support levels suddenly recovered in its week-long bull run, so far topping out at$21,650.

Despite extensive suspicion over the”

choreographed”relocation, BTC/USD has clawed back key pattern lines and psychological rate points.For QCP, there is still a lot of fuel to send out the pair higher, but

that still does not suggest that the bear market overall is done and dusted.Updating its long-term Elliott Wave price analysis, it argued that the present advantage constitutes a Wave 4 for Bitcoin– essentially a bear market relief relocation.”Make no error, what we are seeing now in danger markets are particular of Wave 4s, “it composed.”We are sticking to our view that this bounce considering that November 2022 lows, is just a Wave 4 correction and we have a final Wave 5 sell-off to go.”Such a final capitulation would be no joke. Wave 5, a previous chart from December 2022, revealed that both Bitcoin and Ether(ETH)might potentially drop listed below their 2022 flooring. ETH/USD annotated chart(screenshot). Source: QCP Capital “The extension we are currentlyseeingup until now in 2023 falls within the criteria of the Wave 4, even if it has broken some near-term technical levels to the topside, consequently

Bitcoin can pass $30K before setting new bear market low — forecast
increasing bullish momentum,”the newsletter continued.Elliott Wave theory specifies that

the 20 %, 38.2%and 50 %Fibonacci retracement levels are of particular importance in Wave 4. Since Bitcoin has currently fixed practically 20%from the recent macro lows, 2 remaining cost targets are now in play:$27,100 and$31,850.” Technically till these

levels are broken, Wave 4 is still in play and a final Wave 5 for these markets that break the lows must not be ruled out,”QCP said.”Without a doubt, the pain trade is lower right now.”WEF accompanies shaky BTC price action As Pandoraland reported, Bitcoin has swapped its”up just”trading habits for some much-needed consolidation in recent days.Related: Bitcoin sees new 4-month high as US PPI, retail data posts’big misses ‘This was assisted by panic focused

on the United States ‘takedown of crypto exchange Bitzlato,

coming amidst fresh regulative issues over

Bitcoin from participants at the World Economic Forum, now underway in Davos, Switzerland. BTC/USD traded at around$20,800 at the time of composing on Jan. 19, information from Pandoraland Markets Pro and TradingView showed. BTC/USD 1-hour candle light chart(Bitstamp). Source: TradingView The views, ideas and viewpoints revealed here are the

authors’ alone and do not necessarily show or represent the views and viewpoints of Pandoraland.