Bull Market

Bitcoin

Rekt

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-bull-market-just-beginning-analysts-predict-higher-targets/" data-wpel-link="internal">Bitcoin Bull Market Just Beginning, Analysts Predict Higher Targets</a> 
CMCC Crest <a href="https://en.coin-turk.com/bitcoin-surpasses-50000-market-sentiment-and-future-predictions/" data-wpel-link="internal">Bitcoin</a> analyst and managing partner Willy Woo believes we are at the beginning of the Bitcoin bull market because the $71,000 Bitcoin price is equivalent to the previous bull cycle’s $20,000 mark. Bitcoin crossed the $71,000 threshold on March 11, three days after <a href="https://en.coin-turk.com/crypto-market-dips-as-bitcoin-retreats-to-30k-ethereum-supply-decreases-on-exchanges/" data-wpel-link="internal">Ethereum</a> surpassed the $4,000 mark for the first time since 2021. 
<h2 class="p1" style="text-align: justify" id="prominent-figures-make-noteworthy-predictions">Prominent Figures Make Noteworthy Predictions</h2> 
Bitcoin’s rise above $71,000 is just the start of the bull cycle according to a price model based on a combination of various data sets measuring investor behavior, says Woo. In a post dated March 11, Woo wrote: 
<blockquote> 
 “Bitcoin at the $71,000 level places us here on the visual of upper and lower boundary models. The current upper boundary is $337,000. This means the bull market is still early, equivalent to the last cycle’s $20,000 level.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-325900 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-price-model.jpg" alt="" width="2342" height="2010"> 
Additionally, Woo shared a chart stating that the Bitcoin Macro Index broke the upper blue band this week, indicating a full-fledged bull market based on fundamentals. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-325899 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-macro-scaled.jpg" alt="" width="2560" height="1592"> 
Meanwhile, analyst Rekt Capital suggests that current bull market dynamics could result in an earlier macro peak compared to previous cycles. In a piece dated March 11, Rekt Capital says: 
<blockquote> 
 “If the accelerated perspective holds true, the next bull market peak could occur within 266 – 315 days. This would mean December 2024 or February 2025.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-325898 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-index.jpg" alt="" width="1794" height="1266"> 
In addition, Bitcoin analyst CryptoCoin expects Bitcoin’s four-year cycle to accelerate by about a year. In a post dated March 11, the analyst wrote: 
<blockquote> 
 “With Bitcoin entering price discovery mode and new ATH levels occurring a year earlier than usual, we may be witnessing the death of the 4-year cycle. Previously well-structured cycles called for a peak in late 2025, but now we seem to be on the right track for a peak in late 2024.” 
</blockquote> 
<h2 class="p1" style="text-align: justify" id="bitcoin-could-reach-170-000-analyst-predicts">Bitcoin Could Reach $170,000, Analyst Predicts</h2> 
Bitcoin analyst Dave the Wave suggests that if the emerging parabola continues to develop into a full-fledged parabola, Bitcoin could reach approximately $170,000 by May. Investors often use technical indicators like the weekly moving average convergence divergence (MACD) to assess potential entry and exit points. In a post dated March 11, the analyst said: 
<blockquote> 
 “If the newly emerging parabola continues to evolve into a full parabola, there could be an argument for a level of about $170,000 in May.” 
</blockquote> 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-325897 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-grafik-1.jpg" alt="" width="1835" height="859"> 
However, these price targets are becoming modest in the current bull market. For example, Cathie Wood stated on March 7 that Ark Invest’s long-term price target for Bitcoin is well over $1 million, referencing the regulatory approval of spot Bitcoin exchange-traded funds in the United States: 
<blockquote> 
 “This target was before the <a href="https://en.coin-turk.com/the-dominance-of-cryptocurrency-exchanges-in-the-global-market/" data-wpel-link="internal">SEC</a> gave us the green light, and I think that was a significant turning point and moved the timeline forward.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-bull-market-just-beginning-analysts-predict-higher-targets/" data-wpel-link="internal">Bitcoin Bull Market Just Beginning, Analysts Predict Higher Targets</a></h5>

Bitcoin Bull Market Just Beginning, Analysts Predict Higher Targets

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