in spite of BTC’s recent unimpressive price movement, crypto analyst Dr. Proffitt shared his bullish view on Bitcoin and the broader crypto market. The analyst further suggested: A parabolic movement was imminent. And crypto investors should position themselves accordingly.
Virtual currency market preparing for the “Third Industrial Revolution”
Doctor Profit was mentioned on X (formerly Twitter) post He stated that the virtual currency market is “preparing for the third industrial revolution,” suggesting a reversal in the trend of Bitcoin and virtual currencies. altcoin immediately. “Either join it or you’ll regret it.” [a] Forever,” the crypto analyst added, warning that crypto investors will miss out on this market rally.
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previous ×post, Doctor Profit provided an idea of what to expect when the crypto market (specifically Bitcoin) takes the next step. He said the flagship cryptocurrency will rise to $84,000 after closing in a flat range between $60,000 and $72,000.somewhere else ×postclaimed that a supercycle will begin after Bitcoin reaches $72,000.
Meanwhile, Dr. Proffitt suggested that the price corrections experienced are normal and typically occur at the following times: each crypto cycle. He further said that a 10-20% price change is not a big move. His statement echoes the sentiments of Galaxy Digital's head of research, Alex Thorn. was forewarned The bull market is not a “straight line”.
Bitcoin is in a re-accumulation period
Recent X (old Twitter) postcrypto analyst Rekt Capital confirmed that Bitcoin is currently in a re-accumulation phase. Bitcoin halving. He added that the current goal is for “Bitcoin to move sideways, take a breather, and the market calms down.” [a] Great pre-halving price performance.
According to Rekt Capital, this Re-accumulation period It can last several weeks and sometimes “up to 150 days.” Analysts believe that once this period ends, Bitcoin will experience a breakout from this sideways range, and then parabolic uptrend.
this uptrend stage It is said to last for over a year. However, the duration of this uptrend could be cut in half as market cycles are likely to accelerate, Recto Capital said. Crypto analysts like Tom Dunleavy, partner and chief investment officer (CIO) at MV Capital, Predict When that time comes, the flagship cryptocurrency will rise to $100,000.
At the time of writing, Bitcoin is trading around $64,360 and has risen over the past 24 hours, according to. data From CoinMarketCap.
BTC bears pull down price | Source: BTCUSD on Tradingview.com
Featured image from Kapersky, chart from Tradingview.com
