And now that? Watch out for the Elliot Wave Theory By Investing.com

By Laura Sanchez

Investing.com – The cryptocurrency sector recovers positions this Friday after yesterday’s bloodletting, coupled with global market crashes.

Thus, today rises an average of 8% and moves in the 38,000 dollars.

In the week, the largest crypto in the world falls 5% and in February it loses 1%.

For its part, it is currently up 8% to the $2,500 level.

In the week, the largest cipro in the world loses 6% and in February it leaves 4%.

Other assets, such as or , rise above 2 digits

What to expect now?

Some traders point out that the initial panic has passed and that Bitcoin could touch $40,000 in the short term, according to Cointelegraph.

However, experts continue to warn of the increasingly close correlation between the crypto sector and the stock markets.

The interim bearish outlook presented by the Elliot Wave Theory appeared when Bitcoin dipped below 35,000 yesterday amid the conflict between Russia and Ukraine. “Theory, which divides a price cycle into two sets, one consisting of five uptrend impulse waves and the other with three follow-on corrective waves, points to the possibility of the BTC price falling to $25,500 in 2022″, collect Cointelegraph .

“In recent years, in which cryptocurrencies have gained considerable weight in the market, the , probably the most important of all, moves more or less like the but with more volatility,” explains Víctor Alvargonzález, founding partner and director of Nextep Finance strategy.

“We will continue to analyze the behavior of Bitcoin and other cryptos, because those movements and the correlations that they establish will help us to establish predictions and know how they are going to move depending on the different scenarios if one day they became an investment asset with the same rules of the game and supervision as the rest”, adds Alvargonzález.