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Bitcoin Bull Run Ahead? Independent Market Expert Arsen Believes the Cryptocurrency Will Rise Further, Reaching $330,000 in the Current Bull Cycle

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Release: 2024-07-16 07:53:58
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Despite the recent decline in Bitcoin's value, independent market expert Arsen is optimistic and believes the cryptocurrency will rise further, reaching $330,000 in the current bull cycle.

Bitcoin Bull Run Ahead? Independent Market Expert Arsen Believes the Cryptocurrency Will Rise Further, Reaching 0,000 in the Current Bull Cycle

Independent market analyst Arsen is optimistic about Bitcoin’s future despite the recent decline in its value. He predicts that the cryptocurrency will continue to rise, reaching $330,000 in the current bull cycle.

Arsen's optimism stems from a pattern he observed, where smart money — institutional investors, market analysts, and other financial professionals — purchasing Bitcoin strategically after its recent price slump.

This pattern, according to him, bodes well for a bullish long-term prognosis for the top cryptocurrency.

Arsen also highlighted Bitcoin’s roughly four-year bull cycles, which are typically marked by substantial price gains. He pointed to the first bull market cycle in 2012, which saw an incredible 9,000% increase in Bitcoin’s price over 800 days.

While the following cycles in 2016 and 2020 lasted for a similar duration, they yielded progressively smaller gains — 3,000% and 1,200%, respectively.

Based on this declining sequence of returns, which typically decreases by about 60% with each cycle, Arsen estimates that Bitcoin’s value could surge by 450% for the current cycle, potentially reaching $330,000.

Despite the hopeful projection, Bitcoin is currently facing a downturn, having fallen about 23% from its peak of over $74,000, attained barely four months ago.

The coin’s price hovered at a modest $57,000 as of July 11. Several events, including the Mt. Gox payout to creditors and an aggressive sell-off by the German government, have contributed to this decline.

However, institutional investors are reportedly taking advantage of the lower prices, according to CoinShares data, suggesting they are optimistic about the commodity’s resilience.

Arsen's bullish outlook is further supported by a weekly report from onchain analytics platform CryptoQuant, which showed that large Bitcoin investors, or “whales,” have been increasing their holdings despite the recent price decline.

Their holdings increased by 6.3% month-over-month, marking the fastest pace since April 12. This buildup is said to indicate growing interest in Bitcoin.

What Experts Are Predicting for the Next Bull Run

Even with the current challenges, several experts have a positive long-term market outlook, which aligns with Arsen's $330,000 prediction.

However, other market analysts provide more conservative short-term outlooks. For instance, 10x Research’s Markus Thielen anticipates a potential drop to $50,000 due to a double-top formation, a chart pattern commonly interpreted as a bearish reversal.

Similarly, MN Capital founder Michaël van de Poppe suggests that Bitcoin may dip below its May 1st low of $56,000, drawing in demand-side liquidity and possibly falling further to $52,800.

Meanwhile, another analyst, Apsk32, predicts a correction until October followed by a strong 300% rally that concludes in 2026.

Overall, there seems to be a growing optimism among market experts regarding Bitcoin's future. Many analysts anticipate a significant rally in the coming months.

Independent market analyst Arsen joins the chorus, predicting that Bitcoin could reach $330,000, driven by a trend of large investors buying the cryptocurrency despite recent price movements.

This buying activity is seen as a bullish sign for Bitcoin's future. While some analysts warn of short-term price corrections, the broader outlook remains positive for Bitcoin's trajectory.

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source:kdj.com
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