The Calm Before The Surge: Analyst Says This Is Not The Time To Exit Bitcoin

A
crypto
analyst
has
emphasized
the
need
to
stay
invested
in

Bitcoin
(BTC),
forecasting
a
significant
breakout
to
the
upside.
Despite

BTC’s
previous
price
crash

and
market
volatility,
the
analyst
has
remained
bullish
on
the
cryptocurrency’s
future
outlook.

Bitcoin
Bullish
Surge
Incoming

In
an
X
(formerly
Twitter)

post

on
August
20,
a
crypto
analyst
identified
as
‘CryptoCon’
shed
light
on
the
current
state
of
Bitcoin
using
a
detailed

price
chart.
The
analyst
is
convinced
that
the
most
thrilling
part
of
BTC’s
market
cycle
is
just
around
the
corner. 

CryptoCon
has
suggested
that
leaving
BTC
now
is
akin
to
leaving
before
the

market
fully
rebounds.
His
bullish
expectations
of
Bitcoin
is
based
on
a
metric
called
the
“Puell
Multiple
cycle.” 

The
Puell
Multiple
cycle
is
a
metric
that
compares
the
daily
issuance
value
of
Bitcoin
to
its
average
over
the
past
year.
CryptoCon
points
out
that
historically,
BTC
has
shown
predictable
patterns
of
resistance
and
support
levels
during
its
cycles
on
the
Puell
Multiple. 

This
suggests
that
Bitcoin
is
currently
in
a
low
point
and
set
to
witness
a
major
upward
rally.
Sharing
a
price
chart
tracking

Bitcoin’s
price
movements

from
2010
to
2026,
the
analyst
highlighted
all
the
bull
cycles
BTC
has
experienced
over
the
years.  

The
analyst
noted
that
Bitcoin
has
consistently
hit
mid
cycle
peaks
before
launching
into
a
significant

bull
market.
In
August
2012,
BTC
reached
a
mid
top,
leading
to
an
explosive
bull
run
in
2013.
The
pattern
repeated
in
June
2016,
when
it
hit
another
mid-cycle
peak
which
preceded
a
bull
run
in
2017.
Finally,
in
2019
Bitcoin
reached
a
mid
cycle
high,
setting
the
stage
for
a
dramatic
bull
run
in
2021. 

Based
on
these

historical
bull
patterns,
the
analyst
suggests
that
BTC
has
reached
its
mid-cycle
top
in
March
2024
when
BTC
reached
an

all
time
high
exceeding
$73,000.
As
a
result,
CryptoCon
has
predicted
that
Bitcoin
will
witness
a
bull
run
by
2025. 

BTC
Megaphone
Signals
Imminent
Breakout

In
another
X
post,
a
popular
crypto
analyst
identified
as
‘Jelle,’
has

expressed

bullish
predictions
for
Bitcoin’s
future
value.
The
analyst
highlighted
a
unique
Wedge/Megaphone
pattern
in
BTC’s
price
chart.
This
pattern
is
characterized
by
its
distinct
shape
resembling
a
megaphone
or
cone. 

Jelle
has
revealed
that
this
unique
pattern
often
indicates
that
a
cryptocurrency
is
set
to
move
further
to
the
upside.
He
believes
that
once

Bitcoin’s
price
correction

ends,
the
cryptocurrency
is
likely
to
break
out
of
the

Megaphone
pattern

in
an
upward
direction,
leading
to
significant
price
increases. 

Based
on
this
pattern,
the
analyst
predicts
that
BTC
could
potentially
reach

new
all
time
highs

by
the
fourth
quarter
(Q4)
of
2024.
At
the
time
of
writing,
the

price
of
Bitcoin

is
trading
at
$59,460,
according
to
CoinMarketCap. 

Featured
image
created
with
Dall.E,
chart
from
Tradingview.com