Bitcoin, the famed cryptocurrency asset, has recently broken through a new price ceiling, surpassing its previous all-time high of $69,000, achieved nearly three years ago. This significant milestone has ignited a surge of optimism among crypto enthusiasts and experts alike, who are now predicting further upward momentum for the digital currency in the coming months. One such analyst, known as Doctor Profit, has shared a bullish forecast for BTC with the crypto community via the social media platform X. His insightful analysis, titled “Big Sunday Report,” explores the anticipated next steps for Bitcoin amidst the prevailing market sentiment.
Factors Influencing the Forecast
Doctor Profit’s projection is founded upon a combination of Technical Analysis (TA), Life-Cycle-Assessment (LCA), and Psychological analysis. By paying close attention to a previous forecast, Doctor Profit highlighted that a breakout above $48,500 would propel the price upward rapidly toward the old ATH. True to his prediction, Bitcoin swiftly climbed to exactly $60,000 in a matter of weeks, signaling the commencement of what he termed as the “Golden bull phase.” The analyst emphasized that any movement within the range of $48,500 to $70,000 is currently considered to be part of the golden bull market, with anything exceeding $72,000 marking the beginning of the “Super Cycle Phase” characterized by significant green candle returns and surges.
Doctor Profit posits that before Bitcoin reaches higher levels, it will undergo distinct phases characterized by sideways movements within the golden bull and super cycle areas. Specifically, these fluctuations are expected to persist for a duration, predominantly oscillating between $60,000 (Golden Bull area) and $80,000 (Super Cycle area). The analyst clarified that these movements are not indicative of Bitcoin’s weakness or need for correction but rather a consequence of its rapid rally, making it challenging for major altcoins like ETH, BNB, or SOL to keep pace with the leading cryptocurrency. Despite Bitcoin achieving a new peak, the absence of significant inflows into major alternative coins suggests an impending surge in the altcoin market.
Doctor Profit foresees Bitcoin progressing through four distinct phases in the upcoming bull run, beginning with the culmination of the bear market between $16,000 and $25,000. This will be followed by the pre-bull market, divided into two stages: the initial phase ranging from $25,000 to $38,500 and the subsequent phase extending from $38,000 to $48,000. The golden bull phase, spanning from $48,000 to $70,000, is projected to lead to the Super Cycle area, where Bitcoin is expected to reach unprecedented levels, ranging from $72,500 upward. Currently, the price of Bitcoin has escalated by over 3% in the last 24 hours, trading at $72,139, with its trading volume and market cap also reflecting strength, rising by 78% and 3%, respectively.
It is crucial to note that the information presented in this article is provided solely for educational purposes and does not reflect the views of NewsBTC on investment strategies. Investing in cryptocurrencies carries inherent risks, and individuals are strongly advised to conduct thorough research before making any investment decisions. It is recommended to utilize the information provided on this platform at one’s own discretion and risk.