Market update โ ๏ธโ ๏ธ
Traders read carefully ๐๐๐
Positive News โผ๏ธโผ๏ธ
Institutions are buying as Bitcoin dips under $60,000, strengthening the long-term bullish outlook for BTCโs price. ๐ฑ
Independent market analyst Arsen remains unfazed by the recent dip in Bitcoinโs price, predicting a monumental rebound to $330,000 in the current bull cycle.
Smart money is accumulating Bitcoin๐
Arsen argues that smart money โ institutional investors, market experts and other financial professionals โ has accumulated Bitcoin during its recent correction cycle, indicating its long-term bullish bias for the top cryptocurrency.
โThatโs because this dip is nothing new,โ the analyst noted while referring to Bitcoinโs previous bull cycles, which occurred every four years and witnessed explosive price growth.
For instance, Bitcoinโs first bull cycle in 2012 lasted 800 days and saw its price rise by a whopping 9,000%. The next cycles, in 2016 and 2020, lasted for around 800 days, and BTCโs price surged by approximately 3,000% and 1,200%, respectively.
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