A Bitcoin analyst declares that BTC is preparing for a massive bull market.
Bitcoin (BTC) is once again a hot topic, smashing all-time price records and surging past $70,000.
Following this notable success, longtime Bitcoin analyst Tuur Demeester has shared the latest details about his outlook on BTC.
Reflecting on Bitcoin’s journey, Demeester recalls when Bitcoin first reached $1,200 in early 2017.
“It was hard for people to believe at that time that Bitcoin could be traded at thousands of dollars,” the analyst noted.
According to Demeester, many investors at that time took significant profits only to later regret as the value of Bitcoin continued to rise.
Demeester predicts that when Bitcoin’s price nears and surpasses $100,000, we will encounter a similar situation as that period. According to the analyst, the psychological barrier created by high value could lead to profit-taking waves and market volatility.
However, Demeester remains optimistic about Bitcoin’s future.
“I think we are preparing for a massive bull market for Bitcoin,” he said.
The analyst draws parallels to the strongest cycles in the past, particularly in 2012 and 2015.
According to the analyst, Bitcoin is currently experiencing very few price corrections, similar to previous cycles, indicating low supply and strong investor demand when the price declines.
