The 10-year indicator has sounded the alarm: “Bitcoin Bull 2.0” is coming.

Trader Mags, who stands out with his analyses, shared a Bitcoin chart that will excite crypto investors.

In August, when the cryptocurrency market faced great selling pressure, #Bitcoin (BTC) lost 8.6 percent of its value.

BTC, which left behind the second worst month of 2024, gave investors hope with the beginning of September. Crypto analysts suggested that the bull market could return.

Trader Mags, who is mostly attracted by global investors, addressed investors with the message “Bull 2.0 is coming.” The trader, who prepared a historical $BTC chart based on the last 10 years, drew attention to the consolidation process.

Bitcoin is trading 59 percent above the lowest price level of the year, $ 38,505. Reminding that BTC is still in an annual trend, Mags pointed to historical cycles.

The analyst commented, “The current monthly consolidation in BTC is very similar to the previous cycle, when the price rose to an all-time high.”

“The real bull market has not started yet,” said Mags, highlighting six-figure price levels. The analysis showed that the peak point for BTC was $ 300,000.

Reflecting that #BTC used the peak point of 2021 as a support level, the analysis suggested that the bull start will start from the said support.

According to historical data, #BTC reached its peak point in 2021 after completing the consolidation phase in 2020. A similar view was formed in late 2023.

Commenting on the chart analysis prepared by Mags, AMBCrypto said: “According to the historical cycle, #BTC first enters a consolidation phase after reaching a bottom level, then a local peak, and this period is then followed by a strong bull run.”