Renowned Bitcoin (BTC) and crypto analyst Doctor Profit makes his latest prediction.
He says ongoing sideways movement marks massive whale accumulation moves.
This will eventually trigger the long-awaited super cycle leading to the golden bull run.
Popular crypto and Bitcoin (BTC) analysis reveals what’s next for the pioneer crypto asset in today’s weekly report. So far, Doctor Profit’s reports have been incredibly accurate, will this prediction reveal something even more precise?
#Bitcoin – What's Next?The big Sunday report, all you need to know: TA/LCA/Psychological Analysis: Don't confuse sideways movements with weakness. During these sideways movements, things happen in the background that you don't see. These include massive whale accumulation… pic.twitter.com/PwSm5RTTYs
— Doctor Profit (@DrProfitCrypto) May 12, 2024
According to the psychological analysis aspect of this report Doctor Profit begins by saying sideways movement is not market weakness. He says a lot happens in the background during this time including massive whale accumulation over several weeks strung together.
In addition, massive printing of new USDT will take place, assets that have yet to be injected into the markets. He also reminds his readers that sideways movements have happened after every Bitcoin Halving cycle so far.
He then goes on to identify the crypto cycle phase that we are presently in which is the pre-super cycle phase. Following this will be the onset of the super cycle phase where all promised gains and ATHs will occur.
He also identifies the start of this super cycle phase to break out above the $72,000-$74,000 mark. Until then, he encourages traders and investors to be patient and remain calm and steady during this boring sideways phase.
Next, he refers to the electrical cost of Bitcoin mining which has shot up to between $65,000 and $75,000. Doctor Profit predicted earlier in the year that miners will need Bitcoin (BTC) to be at $80,000 for them to remain in profit.
With a higher value they can earn between $5,000-$15,000 each. At current BTC prices their gains stand at $2,000-$5,000. Doctor Profit encourages readers to check out his older predictions and compare how well they have played out so far.
Lastly, he reminds holders again not to underestimate the sideways movement with its immediate pumps and dumps and bulls and bears take turns playing the market. Accumulation is what’s really playing out behind the scenes.
Read Also
Did Cardano Get a Surprise Appearance at the Super Bowl?
Bitcoin’s Boring Sideways Movement Around $30,000, Lower Pool in Sight
Discover the Advantages of Super Guppy Indicator for XRP Trading
SHIB Coin Price Analysis: Sideways Trading or a Rally to $0.000015 Zone?
Bullish Bitcoin Promise Amidst Incoming BTC Supply Shock Could Trigger Grand Spike for Altcoins
The post Crypto Analyst Marks Boring Sideways Movement as Whale Accumulation Phase, Trigger to Super Cycle Imminent appeared first on Crypto News Land.
