The Wall Street Cheat Sheet, widely used in finance, outlines various market cycle stages based on sentiment, including Bitcoin's position in a bull cycle. A crypto analyst applied it to Bitcoin to signal current market sentiment.
According to analyst Mags, with over 89,000 X followers, Bitcoin has moved into the 'Belief' stage. This transition suggests the bull market is far from over as confidence and investment potentially increase BTC's price.
The next stage, 'Thrill', follows 'Belief', where investors gain greater profits, bolstering the bull rally. The final stage, 'Euphoria', suggests possible BTC prices of up to $300,000, signaling market peak.
Notably, the 'Euphoria' stage may lead to a rapid downturn, with historical data indicating possible declines over 50% post-peak, emphasizing cautious optimism despite bullish trends.
