Top analysts say that Bitcoin (BTC) is "entering its first bull market stage"Bitcoin (BTC) is entering its first bull market stage, and current market sentiment is approaching ETF approval and halving is driving optimismTop market analyst Michael van de Poppe is optimistic about the state of the cryptocurrency market, with Bitcoin (BTC) showing strength and a series of repetitions reflecting its historic rebound.So far this year (YTD), the revenue generated by top tier tokens is amazing
Top analysts say that Bitcoin (BTC) is "entering its first bull market stage"
Bitcoin (BTC) is entering its first bull market stage, and current market sentiment is approaching ETF approval and halving is driving optimism
Top market analyst Michael van de Poppe is optimistic about the state of the cryptocurrency market, with Bitcoin (BTC) showing strength and a series of repetitions reflecting its historic rebound.
So far this year (YTD), the revenue generated by top tier tokens is amazing. As of this time last year, the trading price of Bitcoin was only around $15000, and the current price is $37121. It has surged 124% year to date, which is a key factor indicating that it has finally entered the first stage of the next bull market cycle.
Emphasize the current positioning of Bitcoin (BTC)
According to the charts shared by top analysts, the price of Bitcoin (BTC) fluctuates in a repetitive order, with one year experiencing strong bearish pressure, followed by another year of strong accumulation, followed by a bull market stage and the final cycle leading to frenzy, ultimately leading to a parabolic rise in prices.
According to the chart above, Bitcoin is currently entering the first year of a bull market, as shown in the purple box. Many analysts unanimously believe that the timing for Bitcoin is ripe, as we have seen the continuous accumulation of Bitcoin over the past year, with companies such as MicroStrategy doubling their Bitcoin strategies.
Analysts are optimistic that with the approval of the SEC for Bitcoin spot ETFs and the upcoming halving event, the market may truly enter a frenzy phase, and Bitcoin will retest its historical high (ATH) for several months in the future.
In addition to Michael van de Poppe, several industry experts also predicted the huge price target of Bitcoin before the Bitcoin ETF and the once every four years halving event.
The impact on counterfeit coins
The impact on counterfeit coinsMichael van de Poppe
This trend is rapidly changing, as most counterfeit coins typically join the ranks of Bitcoin during the bull market and frenzy stages, respectively.
From the current performance of Solana (SOL) and Chainlink (LINK), as well as the dramatic revival of FTXToken (FTT), we can agree that Michael van de Poppe's argument is in line with reality. Due to industry expectations for more important triggers such as Bitcoin ETF approval updates, we will see how far Bitcoin and counterfeit coins will soar in the coming weeks.
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