Analyst: Bitcoin Price to Reach $330,000 in This Bull Market
According to Arsen, smart investors (institutional investors, market experts, and other financial professionals) have been accumulating bitcoin during the recent correction cycle, indicating a long-term bullish bias towards the top cryptocurrency. "That's because this kind of decline is nothing new," the analyst noted in reference to Bitcoin's previous bull cycles. Previous bull market cycles occurred every four years and experienced explosive price growth. For example, Bitcoin's first bull cycle in 2012 lasted 800 days and saw its price rise 9,000 percent. The next cycles, which occurred in 2016 and 2020, lasted approximately 800 days and saw the price of BTC soar by approximately 3,000% and 1,200%, respectively.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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