Bitcoin Cycle Top Finder Remains Untriggered — What This Means For Price
Main Idea
The article discusses Bitcoin's current market position, highlighting that key indicators suggest it has not yet reached its cycle top and may still enter a parabolic phase, with predictions of reaching $200,000 by year-end driven by ETF inflows and institutional demand.
Key Points
1. The 'GMI Bitcoin Cycle Top Finder' indicator shows Bitcoin is not near a cycle top, suggesting potential for further price increases.
2. Analysts, including Julien Bittel and TechDev, confirm the Bitcoin cycle isn't over, with historical signals pointing to a parabolic run.
3. Bitcoin could reach $200,000 this year, supported by ETF inflows and corporate demand, according to some predictions.
4. At the time of writing, Bitcoin's price was around $108,265, showing a slight decline in the last 24 hours.
5. The article mentions institutional demand remains strong, as indicated by the Bitcoin Coinbase Premium.
Description
Crypto researcher Julien Bittel has revealed that the Bitcoin cycle top has yet to happen, providing a bullish outlook for the flagship crypto. Instead, BTC just looks set to enter its most parabolic phase, eyeing new highs. Bitcoin Cycle Top Metric Yet To Be Triggered In an X post , Bittel alluded to the ‘GMI Bitcoin Cycle Top Finder’ to prove that this cycle is far from over. He noted that the indicator has correctly spotted four top signals in Bitcoin’s history , and they each corresponded to...
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