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Is The Bitcoin Bull Run Over? Top Analyst Predicts What’s Next For Crypto
- Crypto analyst Bob Loukas has released a new video analysis titled “No Bull.” In the video, Loukas delves into the current state of the Bitcoin market, addressing growing concerns about the possibility of a canceled bull run.
- Loukas acknowledges the prolonged period of consolidation for the Bitcoin price and senses that “there is now some fear creeping into the market,” partly due to factors such as the Bitcoin ETF being “out for quite some time” and the halving having “come and go,” without leading to significant upward price movement.
- He suggests that the current consolidation is a necessary phase to “completely reset sentiment in order to prepare for the next phase of this four-year cycle.” He finds it significant that Bitcoin is “sitting here 23 months, just around 20% or so off the all-time highs of the last four-year cycle high back in 2021,” which makes it feel “more primed for the next phase of the four-year cycle than anything else.”
- Loukas believes that this accelerated timeline has created a dynamic where “we now have to rotate a lot of coins,” allowing “a lot of whales, a lot of old-timers” to “unlock” and “exit and rotate,” while “institutional players, larger account players have been accumulating those coins in this period.”
- He predicts that “within the next 90 days… we’re going to break out of this consolidating range; we’re going to break to the upside.” While he refrains from providing specific price targets, he acknowledges that reaching “somewhere between $120,000 and $180,000 also seems very reasonable.”
- Loukas emphasizes that the focus should be on “time and sentiment,” aiming for a move “in the range where prior cycles have peaked,” which has been “very consistent at around month 35 since the last low.”
- Turning to the immediate future, Loukas admits that the next two months are “a little murky,” with “a lot of factors still at play right now.” He suggests that “we still have around three to four weeks of some trending sideways action,” and he would be “highly surprised if this market can push into the $70,000s before the election here in the US.”
- He cites several factors supporting his bullish outlook, including “massive inflows into Bitcoin, mostly institutional players,” and the absorption of large sell-offs by entities like “the German government” and “the US government,” which have not significantly impacted the price.
- Loukas is particularly excited about the cyclical patterns, noting that “the third year of each of these four cycles is where the magic happens.” He predicts that “within the next 90 days… we’re going to break out of this consolidating range; we’re going to break to the upside.”
- Overall, Loukas remains largely optimistic: “So far in this four-year cycle, I see nothing that has changed that trajectory, nothing in the profile or the structure that tells me that this cycle is any different to the last cycles.”
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