Could Bitcoin's True Bull Run Be On the Horizon? Expert Analysis Inside!
Bitcoin enthusiasts and investors have long-awaited the onset of a true bull market cycle. However, according to Tuur Demeester, a renowned Bitcoin maximalist and researcher, that pivotal moment may still be ahead of us.
Demeester’s Bold Claim
On March 13, Demeester shared on X, “In a way, the Bitcoin bull market hasn’t even started yet.” Such words have stirred curiosity and speculation among those who follow the volatile world of cryptocurrencies.
The Gold Connection
Demeester’s analysis draws a fascinating parallel between Bitcoin’s performance and that of gold. It’s within this relationship that he identifies the potential beginnings of a marked increase. Historically, as observed in 2017 and 2021, Bitcoin’s major bull runs were preceded by surpassing significant resistance levels when indexed against gold prices. Therefore, some suggest that a similar pattern might now emerge.
Current Indicators
The resistance Demeester refers to lies between the 36-ounce to 40-ounce range or approximately 1kg to 1.1kg of gold. Breaking this threshold could signal the next explosive phase for Bitcoin.
Potential for Massive Gains
Utilizing a log chart, Bitcoin seems to mimic its prior journey marked by a near 20x surge in 2017. Demeester hints that the eventual breakthrough of these levels could see Bitcoin’s value equate to a staggering 353 ounces or about 10 kg of gold. Given today’s prices, this could value Bitcoin upwards of $945,000, indicating a potential 10x increase.
Market Mood
The broader market mood remains cautious, overshadowed by geopolitical tensions. Despite encouraging signs such as decreased U.S. inflation, many investors maintain a watchful stance.
While the path to another Bitcoin peak seems speculative, the insight from analysts like Demeester provides a glimmer of excitement for future possibilities. As stated in The Crypto Basic, crypto markets remain an unpredictable yet thrilling realm to explore.
Caution: This analysis is not financial advice. Investing in cryptocurrencies carries risk, and readers should conduct thorough research before any financial commitments.
