Crypto analyst CryptoCon stated in his recent market analysis that Bitcoin's current price action is reminiscent of September 2016. He explained that Bitcoin has dipped into the support zone after the mid-top, fulfilling the “Bitcoin trend strength prophecy.”
CryptoCon noted that all months had been consistent for support zone entries in alternating cycles. He asserted that the “pattern of 3’s” has not failed yet, both in the mid-cycle or bear market. His chart indicated that Bitcoin is at the last part of its reaccumulation zone, just before a cycle top.
Following his analysis, CryptoCon boldly stated that the cycle is not over and that Bitcoin will surpass its current all-time high (ATH) of $73,000. He predicted Bitcoin could rise to as high as $160,000 at the peak of this bull run. He relates the current period to previous halving cycles’ boring phases before new ATHs.
Similarly, crypto analyst Mikybull Crypto provided hope for Bitcoin investors, predicting a parabolic rally. He observed that DXY is about to break down from the macro bear flag, a scenario that occurred in 2017 and 2020. Mikybull Crypto stated Bitcoin could reach $95,000 in its next expansion.
Despite recent declines, both analysts are confident in Bitcoin overcoming its setbacks, signaling a hopeful future for BTC investors. Currently, Bitcoin is trading at around $56,300.
