Bitcoin Bullish Momentum Just Starting, Says Analyst
Crypto analyst Ali Martinez suggests that the Bitcoin bullish momentum is just beginning, indicating that the flagship cryptocurrency will likely continue to reach new highs before the peak of the imminent bull run. Martinez explains that long-term BTC holders go through a “cycle of emotions” during a bullish period, starting with capitulation and progressing through hope, optimism, and belief. Despite a brief period of anxiety and price correction, the market eventually re-enters a phase of belief, signaling further gains ahead. Martinez predicts that Bitcoin will surpass its all-time high and reach new highs in every bull run, typically months after the Bitcoin Halving event.
Influx of New Investors Expected for BTC
Martinez also highlights how Bitcoin has not yet reached peak popularity among the general populace, based on Google Search Trends data. With a score of 18, BTC is considered to be only at “mid-popularity,” indicating room for growth in the next bull run. The introduction of Spot Bitcoin ETFs is seen as perfect timing to onboard the next generation of Bitcoin holders into the crypto space. Furthermore, as interest in Bitcoin grows, search engines like Google can play a role in attracting these investors to the cryptocurrency. At present, BTC is trading at around $51,400.
Hot Take: Bitcoin Continues to Gain Momentum
Crypto analyst Ali Martinez believes that Bitcoin’s bullish momentum has just begun and expects further gains for the flagship cryptocurrency. The cycle of emotions experienced by long-term BTC holders during a bullish period indicates that there are still new highs ahead before reaching the peak of euphoria at the end of the bullish cycle. Moreover, with Bitcoin’s popularity far from its peak and the introduction of Spot Bitcoin ETFs on the horizon, an influx of new investors is expected in the next bull run. As BTC continues to trade above $50,000, the outlook remains positive for Bitcoin’s future growth and potential to surpass its all-time high.
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