Analyst Announces Start of Bull Market
Date: 2024-03-03 Author: Dima Zakharov Categories: IN WORLD
Bullish Sentiments Echoed by Analysts
In a recent announcement, well-known analyst PlanB has signaled the commencement of a bull market in the cryptocurrency sphere. Referring to the culmination of the accumulation phase, he emphasized the cessation of easy buying opportunities in steadily advancing markets. His tweet stirred significant attention among crypto enthusiasts, forecasting approximately 10 months of FOMO (Fear of Missing Out), characterized by intense price surges intertwined with frequent -30% drops.
Price Predictions Galore
Adding to the excitement, analysts at Bitfinex have set a conservative Bitcoin target ranging from $100,000 to $120,000, projected to materialize by the fourth quarter of 2024. This projection aligns with industry expectations, indicating the peak of the cycle to occur in 2025. Earlier in February, PlanB hinted at Bitcoin's increasing scarcity post-halving, suggesting a valuation surpassing $500,000.
Varied Perspectives
However, not all experts share the same exuberance. CEO of Galaxy Digital, Mike Novogratz, has cautioned about a potential Bitcoin correction preceding an all-time high. He raised concerns about the market's high leverage levels. Similarly, Peter Brandt, a technical analyst, and Factor LLC's head, has revised his 2025 Bitcoin forecast from $120,000 to $200,000.
As the cryptocurrency market braces for further volatility, investors remain attentive to unfolding developments and fluctuating sentiments.
