Bitcoin, Ethereum, and Dogecoin Enter Euphoria Stage

Expert maps out bull market stages and points out that significant gains are on the way; current phase could attract large investors.

Blockworks co-founder Jason Yanowitz predicts that the cryptocurrency market is entering its most exciting phase, dubbed “Euphoria.” According to him, this is the third stage of a bull market, which began in January 2023 with the “Renaissance” phase. Yanowitz explained the full cycle in a series of posts on the X platform (formerly Twitter), detailing each of the four typical phases of a bull market.

In the expert’s view, the “Euphoria” phase, which officially began on November 5, shortly after the US presidential election, marks a period where significant gains can be seen in coins such as Bitcoin, Ethereum, and Dogecoin. He describes this moment as a “beautiful but fleeting” window that precedes the arrival of opportunists and excesses in the market.

According to Yanowitz, the previous “Excitement” phase saw some cryptocurrencies reach near all-time highs, albeit without attracting many new investors. Now, in the current phase, he predicts that institutional investors will start making substantial allocations to Bitcoin and Ethereum, while venture capital funds will launch sooner than expected.

As the market moves into new phases, experts recommend paying close attention to maximize opportunities and mitigate risks.