Coin World Report:
A widely followed cryptocurrency analyst has stated that Bitcoin (BTC) is preparing for a new vertical leg as it reflects the past trend of a major stock index.
The analyst, known as TechDev, told his 473,000 followers on social media platform TenUp that Bitcoin may enter a bull market that many will not be able to catch up with.
While most participants in the cryptocurrency market view BTC’s price as a four-year halving cycle, TechDev believes that Bitcoin may be in the early stages of an eight-year bull market. He shared a chart showing similarities between the price surges of Bitcoin and the Japanese Nikkei Index, which experienced a rise for almost 15 years starting from 1975.
“This ‘last stop’ may be harder to decipher than you think.”
Source:
TechDev/X
According to TechDev, the cryptocurrency market could move into the “public attention” phase, with prices rising faster than at any other point in the market cycle.
“The mix of technology and sentiment is currently set up for the next vertical phase.
When the public attention arrives, it will happen quickly.
In the past 10 years, 99% of Bitcoin’s gains have come in 30 days.
This is side hustle/late taxes, and it’s high.”
At the time of writing, Bitcoin’s trading price is $69,000.
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Generated image: Midjourney