Bitcoin price will reach US$330,000 in this bull cycle, according to analyst
Institutions are buying as Bitcoin falls below $60,000, strengthening the long-term bullish outlook for BTC price.
Independent market analyst Arsen remains unfazed by the recent drop in Bitcoin's price, predicting a monumental jump to $330,000 in the current bull cycle.
Smart money is accumulating Bitcoin
Arsen argues that smart money — institutional investors, market experts and other financial professionals — have been accumulating Bitcoin during its recent correction cycle, indicating its long-term bullish bias for the top cryptocurrency.
“That’s because this drop is nothing new,” noted the analyst when referring to Bitcoin’s previous bull cycles, which occur every four years and witness explosive price growth.
For example, Bitcoin's first bull cycle in 2012 lasted 800 days and saw its price rise by a staggering 9,000%. The following cycles, in 2016 and 2020, lasted around 800 days, and the price of BTC rose approximately 3,000% and 1,200%, respectively.
