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From Shakeout to Belief: How Bitcoin’s Market Cycle Is Paving the Path to $150K
Bitcoin has officially entered the ‘belief phase’ of its market cycle, according to historical evidence and technical charts. This pivotal moment marks a turning point in the cryptocurrency’s trajectory, as it mirrors similar patterns seen in preceding bull markets.
Historical patterns demonstrate that Bitcoin (BTC) always undergoes several shakeouts before entering periods of ranging and later recovery. For instance, the 2020/2021 cycle witnessed a series of shakeout phases culminating in a ‘belief phase’ that propelled its price to record highs.
The current price action appears to mirror this pattern. Following a prolonged “depression” phase in 2022, Bitcoin began a gradual recovery in 2023. The current price action puts Bitcoin at approximately $40,000, with projections indicating a potential climb to $150,000 in the ongoing cycle.
Recent market data suggests that Bitcoin is on the cusp of entering a new phase, reminiscent of its previous bull runs. Historical evidence illustrates that significant increases in value occur once certain psychological barriers are crossed. While the prospect of reaching $150,000 could be comforting for shrewd traders and investors, prudence must be exercised amidst market volatility.
The call to temper optimism is underscored by cautionary advice to avoid trading and instead maintain long positions in spot markets during volatile periods.
Source: cryptonewsland.com
