Markets are expected to rebound from late July
While Bitcoin has struggled to gain momentum due to a number of factors, most analysts, including JPMorgan, believe that the outlook will turn around.
According to a research note released by JPMorgan, liquidations in the crypto market should begin to subside in July, and the market is expected to rebound from August.
Historically, Bitcoin has a positive correlation with the S&P; however, this correlation began to weaken in late May as US stocks surged while Bitcoin struggled with sideways and declines. This may change soon, and Bitcoin has the potential to catch up quickly through rapid price increases.
The Bitcoin Accumulation Trend Score indicates a change in investor sentiment, with many now choosing to accumulate BTC after a period of selling pressure since April.
The recent sideways price action is typical of Bitcoin bull cycles. It is easy for BTC to reach $100,000 before this bull run ends
While you are scared, the smart money is doubling down, and that is because this decline is nothing new. As you can see, Bitcoin hits new all-time highs every 4 years:
2012: Bitcoin rose from $12 to $1,000 = an increase of about 9,000%;
2016: Bitcoin rose from $650 to $19,000 = an increase of about 3,000%;
2020: Bitcoin rose from $8,000 to $69,000 = an increase of about 1,200%;
2024:?
Note that in each consecutive cycle, Bitcoin's return rate will drop by about 60%, so the current correction is just a normal phenomenon in the bull market.
