Bitcoin has recently broken its previous all-time high of $69,000, reaching a new price threshold. This accomplishment has ignited excitement among cryptocurrency enthusiasts and experts, who are now predicting even further upward movement for the digital asset in the months to come.
Cryptocurrency analyst Doctor Profit has shared a positive forecast for Bitcoin with the crypto community on the social media platform X. His analysis, titled “Big Sunday Report,” delves into the next steps that BTC is expected to take amid the general market optimism. Doctor Profit’s projection is based on Technical Analysis (TA), Life-Cycle-Assessment (LCA), and Psychological analysis.
Doctor Profit pointed out that any movement in the range of “$48,500 to $70,000” is now considered to be in the golden bull market. Meanwhile, surpassing the $72,000 mark signifies the beginning of the “Super Cycle Phase,” characterized by significant green candle returns and surges.
According to the expert, Bitcoin is expected to move through four distinct phases in the upcoming bull run. The first phase signifies the conclusion of the bear market, occurring between $16,000 and $25,000. The pre-bull market comprises two aspects, with the initial step falling between $25,000 and $38,500, and the second step stretching from $38,000 to $48,000. The golden bull phase is expected to start from $48,000 to $70,000, leading to the Super Cycle area, which will last from $72,500 to unprecedented levels.
Despite Bitcoin reaching a new peak, major altcoins like ETH, BNB, or SOL have not experienced significant inflows, suggesting a pending activation of a robust altcoin market. Doctor Profit emphasizes that Bitcoin’s rapid rally has made it difficult for large market cap altcoins to keep up with its pace.
As of now, the price of Bitcoin has increased by over 3% in the last 24 hours, trading at $72,139. Its trading volume and market cap have also shown strength, rising by 78% and 3% respectively. This indicates a positive trend for the digital asset in the short term.
The recent surge in Bitcoin’s price has created a lot of excitement and optimism within the crypto community. Doctor Profit’s positive forecast and analysis provide valuable insights into the potential future movements of BTC. It will be interesting to see how Bitcoin performs in the upcoming months and whether it reaches the unprecedented levels predicted by experts. As always, it is crucial for investors to conduct their own research and exercise caution when making investment decisions in the volatile cryptocurrency market.