Bull Market Shift?
– The next bull market and cycle peak in the crypto market could come after the Bitcoin halving in April/May 2024.
– The current consolidation phase, where BTC has failed to break above $30K for several months, could be the longest in history.
– Once the consolidation phase ends, the analyst expects the parabolic phase to begin, leading to a potential peak in May 2024.
– If this scenario plays out, a multi-year bear market could begin in 2025.
– Some respondents believe a new all-time high in just eight months is unlikely.
BTC Price Outlook
– The current consolidation phase continues, with BTC hovering around $29K and facing resistance at $30K.
– Total market capitalization remains at $1.21 trillion, suggesting the possibility of a significant upward move.
Hot Take
There is increasing speculation among crypto market analysts that the next bull market and cycle peak could occur after the Bitcoin halving in April/May 2024. This comes after months of consolidation and record-low volatility. While some believe a new all-time high in just eight months is unlikely, others see it as a possibility. Regardless, the current consolidation phase continues, with BTC remaining range bound. The market capitalization remains steady, indicating the potential for a significant move in the future.
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