Cryptocurrency analyst Arsen targets $330,000 for Bitcoin this cycle. The CryptoQuant report states that whales are extremely relevant. Markus Thielen and Poppe are targeting $ 50,000 and below for Bitcoin in the short term. Bitcoin (BTC) price is trading at $57,800 at the time of writing, and altcoins have still not fully gained the necessary ground for the rise. It appears that BTC sales continue in Germany amid below-expected inflation data. However, it is stated that BKA now has assets below 5,000 BTC and the only problem right now seems to be MTGOX.

Bitcoin Bullish Target
Cryptocurrency analyst Arsen announced his bull season target in his latest market assessment. He said that the smart money (institutions, market experts, those experienced in finance) are accumulating Bitcoin and this is supporting the bullish trend in the crypto market. Arsen drew attention to the cycles that occur every four years and bring great profits. He noted that for experienced investors, declines are meaningless and that's why the smart money remains interested. For example, Bitcoin's first bull cycle in 2012 lasted 800 days and its price increased 90 times. The subsequent 2016 and 2020 cycles also lasted approximately 800 days and the price increased by 30 times and 12 times respectively.

“Notice how Bitcoin returns have shrunk by approximately 60% with each successive cycle. This would imply a 450% price increase in this cycle, which would push Bitcoin to a price of $330,000 per coin.”

Cryptocurrency Reviews
Although Arsen's cycle target is $330,000, BTC is currently trading around $57,700. However, a new ATH level was set around $74,000 about 4 months ago. Therefore, current levels represent a 23% decline, which would be considered normal during the bull season and does not put the cycle at risk. The CryptoQuant report confirms that whales are actively buying along with the decline in BTC price.

“Whale assets are growing at 6.3%, the fastest monthly increase since April 12. The increase in whale assets is an indicator of increased demand for Bitcoin.” But not everyone is expecting a rise; Markus Thielen, an analyst at 10x Research, stated that due to the double top formation, the king cryptocurrency could make new lows below $50,000 in the coming weeks. Analyst named Poppe, on the other hand, expects a decrease around $ 52,800 in the short term.

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