Bitcoin, the world’s largest cryptocurrency asset, has finally entered a new price threshold, surpassing its previous all-time high (ATH) of $69,000, accomplished nearly three ago. Following the latest milestone, crypto enthusiasts and experts are very bullish on the digital asset, predicting further upward movement to unprecedented heights in the upcoming months.
Cryptocurrency analyst Doctor Profit has shared a positive forecast for BTC with the crypto community on the social media platform X. His analysis, tagged “Big Sunday Report,” delves into the next step that BTC is expected to take amid the general market optimism. Doctor Profit’s projection is based on Technical Analysis (TA), Life-Cycle-Assessment (LCA), and Psychological analysis.
The Golden Bull and Super Cycle Phases
According to Doctor Profit, any movement in the range of “$48,500 to $70,000” right now is considered to be in the golden bull market. Meanwhile, “anything above $72,000” marks the beginning of the “Super Cycle Phase,” indicated by “significant green candle returns and surges.” The expert is confident that before the asset goes higher, it will maintain a “movement inside the golden bull and super cycle.” Specifically, these sideways movements will go on for a while, primarily between “$60,000 (Golden Bull area) and $80,000 (Super Cycle area).”
Despite Bitcoin reaching a new peak, major altcoins like ETH, BNB, or SOL still have not been able to record significant inflows, suggesting a pending activation of a robust altcoin market. So far, Doctor Profit expects Bitcoin to move in four distinct phases in this upcoming bull run. The experts underlined the first aspect, “signifying the conclusion of the bear market,” was between $16,000 and $25,000.
Current Bitcoin Price
Currently, the price of Bitcoin has increased by over 3% in the last 24 hours, trading at $72,139. Its trading volume and market cap are also showing strength, rising by 78% and 3% respectively.
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