A new scientific study predicts that bitcoin could soar by 50%, followed by a large-scale sell-off and the completion of a bear market.

In the latest issue of the encrypted Circular for selling Market Communications on time, online trading platform QCP Capital issued a complex warning to those who felt that the winter of login passwords had passed.

Scientific research warns of "final wave of 5 selling"

It is surprising that Bitcoin maintains the support line it suddenly occupied during the bull market of the past week, and the highest support line for Bitcoin so far is $21650.

While there is widespread skepticism about this "well-orchestrated" trend, Bitcoin may occupy a key physiological and psychological price point of the moving average against the dollar.

For QCP, there is still plenty of hope to boost the currency, but this still does not mean that the bear market is largely over.

The company upgraded its ongoing price analysis of Elliot's wave and felt that the current rise formed the fourth wave of Bitcoin-essentially a bear market measure.

"there is no doubt that what we are seeing in the risky sales market is characteristic of the wave of 4S," it wrote. "

"always stick to our own view that this round of rebounding from November 2022 to the present low, only the fourth wave of adjustment, I have the final wave of fifth wave of selling."

This final surrender will be more than talk; a wave of charts before December last year showed that the fifth wave would represent that both Bitcoin and ETH could fall below the bottom of 2022.

The newsletter once again wrote: "so far in 2023, you have seen expansion within the main parameters of wave 4, even though it has broken through some recent technical levels, thus increasing the upward trend."

Elliot's wave theory feels that 20%, 38.2% and 50% of Fibonacci backstops are crucial in the fourth wave. As Bitcoin gradually adjusts nearly 20% from its recent macroeconomic lows, the remaining two share price forecasts are still in full play: $27100 and $31850.

"technically, the fourth wave is still in full play before all levels are broken, and the probability that this kind of sales market will eventually fall below the low point cannot be cleared," QCP said.

"there is no doubt that the level of suffering trading is relatively low at this stage."

Davos Forum accompanied by BTC unstable Price behavior

Recently, as reported by Cointelegraph, Bitcoin has chosen to give up its "only rise" trading and has made some urgent sideways.

And thanks to concerns about a legal ban on access to password trading center Bitzlato abroad, attendees at the Davos Forum (World Economic Forum) in Davos, Switzerland, have created a new regulatory concern.

At the time of writing this article, bitcoin was trading at about $20800 against the dollar, according to Cointelegraph Markets Pro and TradingView statistics.