Although bitcoin-time-bull-market-intotheblock-explains-why/” rel=”nofollow”>btc's Recent Unimpressive Price Action, crypto analyst Doctor Profit has shared his bullish sentiment for bitcoin and the crypto market in general. The analyst further suggested that bitcoin-accumulating-breaking-74000-bear-scare/” rel=”nofollow”>The parabolic movement was imminent. and that cryptocurrency investors should position themselves accordingly.
crypto market prepares for a “third industrial revolution”
Doctor Profit mentioned in an x (formerly twitter) x.com/DrProfitCrypto/status/1783585820194054413″ rel=”nofollow”>mail that the cryptocurrency market “is preparing for the third Industrial Revolution”, thus hinting at a change of trend for bitcoin and alternative currencies soon. “Be part of this, or regret it for the rest of your life,” the crypto analyst added as he warned crypto investors that they would miss out on this market rally.
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in a previous x.com/DrProfitCrypto/status/1781700676227084386″ rel=”nofollow”>x publication, Doctor Profit gave an idea of what to expect from the cryptocurrency market (bitcoin in particular) when it makes its next advance. He stated that the flagship cryptocurrency will rise to $84,000 once it finishes trading in the sideways range between $60,000 and $72,000. In other x.com/DrProfitCrypto/status/1782895874621751653″ rel=”nofollow”>x publicationstated that the super cycle will begin after bitcoin reaches $72,000.
Meanwhile, Doctor Profit suggested that the price corrections experienced were normal and usually occur in bitcoin-bull-buyers-finally-break-even/” rel=”nofollow”>every crypto cycle. Furthermore, he commented that price fluctuations of 10 to 20% were not big changes. His statement echoes the sentiment of Alex Thorn, head of research at Galaxy Digital, who previously warned that bull markets were not “straight lines.”
bitcoin is in the reaccumulation period
In a recent x (formerly twitter) x.com/rektcapital/status/1783069511093993972″ rel=”nofollow”>mailcrypto analyst Rekt Capital confirmed that bitcoin is currently in the reaccumulation phase, which occurs after the bitcoin-bull-market-glassnode/” rel=”nofollow”>bitcoin Halving. He further noted that the goal now “is for bitcoin to move sideways to take a breather, for the market to cool down after (a) fantastic pre-halving price performance.
According to Rekt Capital, this Reaccumulation period It can last several weeks “and even up to 150 days.” The analyst revealed that once this period ends, bitcoin will experience a breakout from this sideways range, followed by a bitcoin-future-samourai-wallet-case/” rel=”nofollow”>parabolic uptrend.
This uptrend phase It is said to last more than a year. However, given the likelihood of this being an accelerated market cycle, Rekt Capital noted that the duration of this uptrend could be cut in half. crypto analysts like Tom Dunleavy, partner and chief investment officer (CIO) at MV Capital, predict that the flagship cryptocurrency will rise to $100,000 when that time comes.
At the time of writing, bitcoin is trading at around $64,360, up in the last 24 hours according to bitcoin/” rel=”nofollow”>data from CoinMarketCap.
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btc bears pull down price | Source: BTCUSD on Tradingview.com
Featured image from Kapersky, chart from Tradingview.com
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