Despite BTC’s recent, unimpressive price actioncrypto analyst Doctor Profit has shared his bullish sentiment for Bitcoin and the broader crypto market. The analyst further suggested that a A parabolic movement was imminent and that crypto investors should position themselves accordingly.
Crypto market prepares for a “third industrial revolution”
Doctor Profit mentioned in an X (formerly Twitter) after that the crypto market is “preparing for the third industrial revolution,” signaling a trend reversal for Bitcoin and altcoins soon enough. “Be part of it or regret it [a] longevity,” the crypto analyst added while warning crypto investors about missing out on this market rally.
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In a previous one X message, Doctor Profit gave an idea of what to expect from the crypto market (particularly Bitcoin) when it makes its next move up. He stated that the flagship crypto will rise to $84,000 after trading in the sideways range between $60,000 and $72,000 is completed. In another X messagehe claimed 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 every crypto cycle. He further noted that the 10 to 20% price swings were not major moves. His statement echoes the sentiment of Alex Thorn, head of research at Galaxy Digital, who warned earlier that bull markets were not “straight lines.”
Bitcoin is in the reaccumulation period
In a recent X (formerly Twitter) afterCrypto analyst Rekt Capital confirmed that Bitcoin is currently in the reaccumulation phase, which takes place after the Bitcoin halving. He further noted that the goal now “is for Bitcoin to move sideways to catch its breath so the market can cool down after [a] fantastic price performance before the halving.
According to Rekt Capital, yes Reaccumulation period can last several weeks “and even up to 150 days.” The analyst revealed that once this period is over, Bitcoin will experience a breakout from this sideways range, followed by a parabolic uptrend.
This upward phase It is said to last well over a year. However, since there is a good chance that this will be an accelerated market cycle, Rekt Capital noted that the duration of this uptrend could be halved. Crypto analysts like Tom Dunleavy, Partner and Chief Investment Officer (CIO) at MV Capital, to predict that the flagship crypto will rise as high as $100,000 by then.
At the time of writing, Bitcoin is trading around $64,360, up in the past 24 hours according to facts from CoinMarketCap.
BTC bears pull down price | Source: BTCUSD on Tradingview.com
Featured image of Kapersky, chart from Tradingview.com
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