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Cryptocurrency analyst ShardiB recently revealed this Bitcoin He has entered “cutting season.” This is important because it may take some time before the major cryptocurrency finally archives this hack, which will be sent to All-time highs (ATHs).
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How will the cutting season affect the price of Bitcoin?
While revealing that Bitcoin was about to enter a cutting season, Chardi b Hint The season will be filled with more sideways movement for major cryptocurrencies. The analyst pointed to the fact that BTC has continued to do so Try out of his current scope but has failed in every attempt so far.
The cryptocurrency analyst claimed that this will remain the top cryptocurrency for a few more months, ahead of the cutting season. The analyst suggested it might be better to buy Bitcoin Now and “keep the life and enjoy it for a few months without it being cut off.”
In fact, the major cryptocurrency has maintained tepid price action since the halving event as it continues to consolidate. Bitcoin has it too He failed to keep $70,000 As support every time it breaks this level for a while now. Cryptocurrency expert Michael van de Poppe We mentioned that a successful cryptocurrency breakout of this range is what will start The rise of Bitcoin And send it to the new ATHs.
Cryptocurrency analyst Rekt Capital He also echoed similar sentiments as he suggested that Bitcoin is one step away from entering the parabolic phase of this market cycle. Interestingly, the cryptocurrency analyst presented a story that Bitcoin could enter this phase this week, noting that a weekly close above $69,000 “would change the course of history.”
However, this seems unlikely, as Bitcoin is currently on a downtrend, falling as low as $67,000 over the past 24 hours. Rekt Capital added that previous cycles suggest that Bitcoin is still several weeks away from entering this parabolic phase.
Meanwhile, Arthur Hayes, co-founder and former CEO of BitMEX, suggested that this cutting season will continue until August while… Forecasting The price of Bitcoin will continue between $60,000 and $70,000 until then.
Bitcoin breakout may be closer than expected
Cryptocurrency analyst Mikybull Crypto He suggested in a recent post by X (formerly Twitter) that the Bitcoin hack may happen sooner than expected. This came after his statements that Bitcoin had offered a Expanded wedge on the daily chart and that “the breakout is closer than you think.”
He claimed that $85,000 is the hack target for Bitcoin.
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BitQuant Crypto Analyzer He also noted that a breakout is imminent, noting that Bitcoin is about to make a “big move, which could start at any moment.” He claimed that the major cryptocurrency is following the same pattern as in February and March when it reached its peak Current ATH of $73,000. The chart he shared showed that Bitcoin could rise to $92,000 when the move occurs.
Featured image from Getty Images, chart from TradingView
