New analysis showed that the Bitcoin bull run phase already started 4 months ago and probably people missed the perfect chance to buy at a low price of this current phase of the bull run.
The current trade price of Bitcoin (BTC), the top ranked crypto asset by market cap, is $34,204. This trade price is 19.23% high over the last 7 days of trade price.
This year the trade price of Bitcoin surged rapidly 2-3 times big spikes following the news related to Bitcoin spot ETF & XRP Lawsuit in which crypto-hater financial regulator the United States Securities and Exchange Commission (SEC) lost the case.
In the last 3 days, the trade price of Bitcoin surged 15% following the reports of BlackRock’s Bitcoin spot ETF called IBTC appearance on the DTCC website.
In the present time, the majority of the people are considering that the Bitcoin market entered in the first phase of the bull run and the trade price will keep going up, while some analysts believe that Bitcoin may face big correction by upto -40% before Bitcoin halving (April 2024).
In the latest, Matrixport shared its analysis on Bitcoin trade price and claimed that Bitcoin already has been in the bull phase since June of this year.
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According to Matrixport analysis, the best time to purchase Bitcoin was Oct 2022, in short people missed the chance to buy at low price.
Analysts noticed that Q3 2022 was really the best moment to purchase Bitcoin because at the time the majority of the analysis showed that that was a big possible dump of the last Bitcoin bear phase.
Matrixport predicted that Bitcoin’s next stops are $45k, $63k, & $125k. Third stop will hit somewhere at the end of 2024.
Alongside of these analysis, the majority of the factors are showing that Bitcoin buy pressure is only going to increase.
A report by Galaxy Research predicted that $14 billion funds will enter the Bitcoin market in 12 months, just after the approval of the first Bitcoin spot ETF product by the US SEC.
Read also: AI predicts Bitcoin price to $300k by 2024 because of Bitcoin spot ETFs
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- Source: https://bitcoinik.com/14b-inflow-will-take-place-in-bitcoin-market-price-will-hit-125k-by-2024/
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