Bitcoin

Rekt

Reported by Cointelegraph, despite Bitcoin surpassing $71,000, the bull cycle is only starting, according to Willy Woo, a Bitcoin analyst and managing partner at CMCC Crest. Woo's analysis is based on a composite of various metrics set to gauge investor behavior. Woo wrote in a March 11 post on X:
“BTC at 71k puts us here in visual of the upper and lower bound models. The upper bound right now is $337k. So this bull market is still early, equivalent to 20k of last cycle.”
<img src="https://s2.tokeninsight.com/static/calendar/img202403121001213fdcd347-aa47-4e47-b510-eceb4454d7b6.jpg">
Furthermore, the Bitcoin Macro Index broke the upper blue band this week, which signals that “we are in a full fundamentals-driven bull market,” noted Woo, sharing the chart below.
<img src="https://s2.tokeninsight.com/static/calendar/img202403121001231d6db775-e50b-469f-bde9-0f4072a8d278.jpg">
Meanwhile, the current bull market dynamics might result in an earlier macro top compared with previous cycles, argued analyst Rekt Capital. He <a rel="noopener noreferrer nofollow" target="_blank" href="https://twitter.com/rektcapital/status/1767202010305118233">wrote</a> in a March 11 X post:
<blockquote>
 “If the accelerated perspective turns out to be true, then the next bull market peak may thus occur in 266 - 315 days. That’s December 2024 or February 2025.”
</blockquote>
Additionally, Bitcoin analyst CryptoCoin also expects Bitcoin’s four-year cycle to accelerate by as much as one year. The analyst <a rel="noopener noreferrer nofollow" target="_blank" href="https://twitter.com/CryptoCon_/status/1767204132182430186">wrote</a> in a March 11 X post:
<blockquote>
 “With #Bitcoin entering price discovery mode and new ATHs a year earlier than usual, we may be witnessing the death of the 4-year cycle. Our before, perfectly structured cycles would have called for a top late 2025, but we seem to now be right on track for a top late 2024.”
</blockquote>

Bitcoin Bull Cycle Just Starting, the Typical 4-year Cycle May Accelerate

TokenInsight

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