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Crypto Analyst Predicts Massive Movement for Bitcoin, What’s the Goal?
Despite BTC’s recent unremarkable price action, crypto analyst Doctor Profit shared his bullish sentiment for Bitcoin and the cryptocurrency market in general. The analyst further suggested that a parabolic movement was imminent and that cryptocurrency investors should position themselves accordingly.
The cryptocurrency market is preparing for a “third industrial revolution”
Doctor Profit mentioned in an X (ex Twitter) send that the cryptocurrency market is “preparing for the third industrial revolution”, thus suggesting a turnaround for Bitcoin and altcoins quite early. “Be part of it, or regret it [a] life,” the cryptocurrency analyst added while warning cryptocurrency investors to miss out on this market rally.
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In a precedent X post, Doctor Profit gave an idea of what to expect from the cryptocurrency market (Bitcoin in particular) when it takes its next step forward. He stated that the flagship cryptocurrency will rise to $84,000 after finishing trading in the sideways range between $60,000 and $72,000. In an other X poststated 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 every cryptographic cycle. He also noted that price fluctuations of 10 to 20% are not big moves. His statement echoes the sentiment of Alex Thorn, head of research at Galaxy Digital, who previously notified that bull markets were not “straight lines.”
Bitcoin is in the reaccumulation period
In a recent X (formerly Twitter) sendCrypto analyst Rekt Capital confirmed that Bitcoin is currently in the reaccumulation phase, which happens next 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 rally parabolic uptrend.
This bullish trend phase it is said to last more than a year. However, given the likelihood of this being an accelerating 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) of MV Capital, foresee 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 over the past 24 hours according to data from CoinMarketCap.
BTC bears pull down price | Source: BTCUSD on Tradingview.com
Featured image by Kapersky, chart from Tradingview.com