Despite BTC’s recent unimpressive price action, crypto analyst Doctor Profit has shared his bullish sentiment for Bitcoin and the broader crypto market. The analyst further suggested that a parabolic move was imminent and that crypto investors should position themselves accordingly. 

Crypto Market Preparing For A “Third Industrial Revolution”

Doctor Profit mentioned in an X (formerly Twitter) post that the crypto market “is preparing itself for the third Industrial Revolution,” thereby hinting at a trend reversal for Bitcoin and altcoins soon enough. “Be part of it, or regret for [a] lifetime,” the crypto analyst added as he warned crypto investors of missing this market rally.  

Related Reading: HBAR Prices Crashes 35% As BlackRock Denies Any Ties To Hedera

In a previous X post, Doctor Profit gave an idea of what to expect from the crypto market (Bitcoin in particular) when it makes its next leg up. He stated that the flagship crypto will rise to $84,000 after it is done trading the sideway range between $60,000 and $72,000. In another X post, he claimed that the super cycle will start after Bitcoin hits $72,000. 

Meanwhile, Doctor Profit suggested that the price corrections experienced were normal and usually occur in each crypto cycle. He further remarked that the 10 to 20% price fluctuations weren’t big moves. His statement echoes the sentiment of Alex Thorn, Head of Research at Galaxy Digital, who previously warned that bull markets weren’t “straight lines up.”

Bitcoin Is In The Re-Accumulation Period 

In a recent X (formerly Twitter) post, crypto analyst Rekt Capital confirmed that Bitcoin is currently in the Re-Accumulation phase, which occurs after the Bitcoin Halving. He further noted that the goal now “is for Bitcoin to move sideways to catch a breather, for the market to cool off after [a] fantastic Pre-Halving price performance.  

According to Rekt Capital, this Re-Accumulation period can last for multiple weeks “and even up to 150 days.” The analyst revealed that once this period is over, Bitcoin will experience a breakout from this sideways range, followed by a parabolic uptrend. 

This uptrend phase is said to last for over a year. However, with the probability of this being an accelerated market cycle, Rekt Capital remarked that the duration for this uptrend could be cut in half. Crypto analysts like Tom Dunleavy, Partner and Chief Investment Officer (CIO) at MV Capital, predict that the flagship crypto will rise as high as $100,000 when that time comes. 

At the time of writing, Bitcoin is trading at around $64,360, up in the last 24 hours according to data from CoinMarketCap.

BTC bears pull down price | Source: BTCUSD on Tradingview.com

Featured image from Kapersky, chart from Tradingview.com

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A widely followed cryptocurrency analyst and trader believes one type of crypto asset is about to implode.

The analyst pseudonymously known as Credible Crypto tells his 391,500 followers on the social media platform X that memecoins could suddenly collapse in value.

“Still a lot of salt in this space despite us being at new all-time high for BTC. Mainly because memes are the ‘only’ alts that have been pumping the last few months. Hearing lots of ‘this cycle is clearly different, it’s a meme supercycle’ etc. and ‘fundamentals don’t matter.’ Lots of people have lost hope on their non-meme alt holdings and the meme reply guys couldn’t be louder.

Three things:

1. We’re going so much higher with this market as a whole.

2. There’s a meme reckoning coming.

3. Other alts will get their turn, in time.”

Next up, the analyst says Bitcoin (BTC) could retest the lower $60,000 range before breaking through the upper trendline resistance.

“And there is our drop. Would like to see us go a bit lower here though before the reversal so ideally we aren’t done just yet. Watching to see how things develop.”

Bitcoin is trading for $64,496 at time of writing, up slightly in the last 24 hours.

Lastly, the analyst says Ethereum (ETH) competitor Hedera (HBAR) could increase more than 90% from the current value.

“Looking for something like this after completing a nice five wave impulse off the lows. Note the first step is a break in lower timeframe market structure to kick things into gear. After that if we can print a higher low we should be able to run it back to the highs.”

Hedera is trading for $0.11 at time of writing, down more than 2% in the last 24 hours.

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The CEO of Bitcoin’s Lightning Network wallet Strike Jack Mallers is predicting that the flagship crypto asset could reach a seven-figure price during the current cycle.

Mallers says in an appearance on the David Lin YouTube channel that efforts to save the bond market could lead to a looser monetary policy, consequently triggering Bitcoin (BTC) to appreciate by between 297% and 1,486% from the current level.

“The bond market is in trouble for really arguably the first time in modern financial history. Bondholders are getting absolutely demolished and crushed. Now who owns bonds? All of our banks. So our bank deposits aren’t there because the bonds that were purchased with my deposit are underwater.

And so if central banks and governments are going to try and save that market, the amount of liquidity that’s needed is going to send assets very high…

So if that happens it’s impossible to speculate on an asset as scarce as Bitcoin. But I think $250,000 to one million is the imagination I have in that range of just how big this can get. And that’s based on all the liquidity that’s going to be required to make this market solvent.”

According to the Strike CEO, the price is the “most accurate key performance indicator (KPI)” concerning Bitcoin adoption.

“What price tells me is a rather accurate measurement of how much of the world is using Bitcoin as money.

And so I expect more of the world to take on Bitcoin as money whether it be for any form of use case or value to them because it is so appealing in solving so many different problems.

So I expect the adoption of Bitcoin as a monetary unit to go up. And then against the dollar in particular and other fiat currencies, I expect it to be violent to the upside.”

Bitcoin is trading at $63,035 at time of writing.

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