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Cryptocurrency discussions / Re: Is there still going to be a bull run?
« on: April 30, 2024, 11:25:10 PM »No, it's still too early to pack our bags because we are already in middle of the bull market and it's just the beginning of this bull run. 2024-2025 are going to be very bullish years for crypto currencies, especially for Bitcoin. The market had to have some corrections overtime as without corrections the market won't work.Yeah, I also believe that the crypto market is overheating and that there needs to be a strong and long enough correction to re-accumulate before entering the main bullrun. I consider the BTC's journey from $16K to $73K to be just a recovery phase, not growth. If the market ends the bullrun right now, it will not be able to continue to attract investor attention and the crypto market will be destroyed or go into a prolonged downturn.
Bitcoin hasn't yet reached $80k value and it's too early to even think about packing the bags because when the market gets intensity, we can expect Bitcoin crossing $100k value. If we check the history of Bitcoin then we can understand that it's too early to expect the peak price of Bitcoin at current times because history shows us that Bitcoin reaches its best values in October to December of previous bull runs.
Now keeping that in our mind, we can expect Bitcoin to do something similar in this bull run as well. This bull run is going to be much more intense than the previous bull runs because in this bull run huge investment companies have launched their ETFs and they will do their best to make Bitcoin reach the top values.
The community often has extreme emotions: excessive greed in Q1 after BTC Spot ETFs and excessive fear when BTC has been sideways for the past few weeks. Skepticism is running rampant in the market but it only comes to inexperienced investors. Experienced investors will understand that a correction is necessary at this time, and the rational action would have to be to buy instead of sell.
I still maintain my expectation that BTC will reach $150K-170K in 2025. In the worst case, that could come in Q4 2024 and we will see this cycle end a bit earlier than previous cycles.