Despite BTC’s recent unimpressive price developmentCrypto analyst Doctor Profit has expressed his bullish sentiment on Bitcoin and the broader crypto market. The analyst also suggested that a A parabolic move was imminent and that crypto investors should position themselves accordingly.
The crypto market is preparing for a “third industrial revolution”.
Doctor Profit is mentioned with an X (formerly Twitter) post that the crypto market is “preparing for the third industrial revolution,” indicating a trend reversal for Bitcoin Altcoins early enough. “Be a part of it or regret it [a] Lifetime,” the crypto analyst added as he warned crypto investors not to miss out on this market rally.
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In an earlier one X contribution, Doctor Profit gave an idea of what to expect from the crypto market (particularly Bitcoin) as it hits its next high. He stated that the flagship cryptocurrency will rise to $84,000 after moving in a sideways range between $60,000 and $72,000. In another X contributionHe claimed that the super cycle will begin once Bitcoin reaches $72,000.
Meanwhile, Doctor Profit suggested that the price corrections experienced were normal and usually occur every crypto cycle. He further noted that the price fluctuations of 10 to 20% are not big moves. His statement echoes the opinion of Alex Thorn, head of research at Galaxy Digital warned beforehand that bull markets are not “straight lines.”
Bitcoin is in the reaccumulation phase
In a current X (formerly Twitter) postCrypto analyst Rekt Capital confirmed that Bitcoin is currently in the reaccumulation phase, which comes after the Bitcoin halving. He further noted that the goal now is “for Bitcoin to move sideways to take a breather so that the market can cool down afterwards.” [a] fantastic pre-halving price performance.
According to Rekt Capital, this is Post-accumulation period can take several weeks “and even up to 150 days.” The analyst revealed that after this period expires, Bitcoin will see a breakout from this sideways range, followed by a parabolic uptrend.
The Uptrend phase supposedly lasts over 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 at that point.
At the time of writing, Bitcoin is trading at around $64,360, up over the last 24 hours Data from CoinMarketCap.
BTC bears drag price down | Source: BTCUSD on Tradingview.com
Featured image by Kapersky, chart by Tradingview.com
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