Crypto Analyst Doctor Profit Bullish on Bitcoin and Crypto Market
The crypto market is abuzz with excitement as renowned crypto analyst Doctor Profit has shared his bullish sentiment for Bitcoin and the broader crypto market. Despite recent lackluster price action, Doctor Profit believes that a parabolic move is imminent and has urged crypto investors to position themselves accordingly.
In a recent X post, Doctor Profit hinted at a trend reversal for Bitcoin and altcoins, suggesting that the crypto market is gearing up for what he calls the “third Industrial Revolution.” He warned investors not to miss out on this market rally, stating, “Be part of it, or regret for [a] lifetime.”
The analyst also provided insights into Bitcoin’s potential price movements, predicting that the flagship cryptocurrency could rise to $84,000 after trading in a sideways range between $60,000 and $72,000. Doctor Profit emphasized that the recent price corrections were normal and to be expected in each crypto cycle.
Meanwhile, fellow crypto analyst Rekt Capital confirmed that Bitcoin is currently in the Re-Accumulation phase, following the Bitcoin Halving. This phase, which can last for multiple weeks or even up to 150 days, is crucial for Bitcoin to catch a breather and cool off after a strong pre-halving performance.
Rekt Capital suggested that once the Re-Accumulation period is over, Bitcoin is likely to experience a breakout from its sideways range, leading to a parabolic uptrend that could last for over a year. With the possibility of an accelerated market cycle, analysts like Tom Dunleavy predict that Bitcoin could reach as high as $100,000 in the near future.
At the time of writing, Bitcoin is trading at around $64,360, showing an upward trend in the last 24 hours. Crypto enthusiasts and investors are eagerly watching the market for any signs of the anticipated parabolic move that Doctor Profit and other analysts have predicted.
