Senior analyst: Bitcoin has entered an explosive period

Since hitting an all-time high in March, Bitcoin has been in a volatile correction for many months. Is the bull market that investors are looking forward to still there? Some analysts expressed an optimistic view.

According to (Cointelegraph), senior analyst Bob Loukas pointed out yesterday (8th) that judging from the monthly trend, Bitcoin is entering the "explosion" period of the four-year bull-bear cycle.

Loukas noted:

"Bitcoin will end the second year of its four-year cycle next month and enter the third year, which is historically the most explosive year of the cycle."

He used the four-year bull-bear cycle theory to find the highs and lows of the Bitcoin market, and this historical similarity may help investors predict the peak of the current cycle.

According to Loukas’ observations, Bitcoin is currently forming a falling expanding wedge pattern after hitting all-time highs in March. He predicted that Bitcoin may soon enter a parabolic upward trend against the backdrop of changes in market sentiment and the Federal Reserve's interest rate cuts.

Loukas emphasized: “(Bitcoin’s trend) has been based on an eight-month foundation, market sentiment has reset, and interest rates have begun to loosen. I mean, this script is perfect.”

Currently, geopolitical tensions, the upcoming U.S. presidential election and doubts about the health of the U.S. economy are weighing on markets. With these factors in mind, bulls may need to hold on to this eight-month basis in October, with a monthly close above the expanding wedge pattern's upper trendline to confirm entry into year three of the cycle.

Judging from the chart shared by Loukas, he predicts that the peak of this bull market may exceed $150,000.

Image source: XBob Loukas predicts the highest point of Bitcoin’s current bull market

Santiment: Investor interest in Bitcoin increased in Q4

Blockchain analysis platform Santiment observed that investor interest in Bitcoin increased in the fourth quarter of this year.

Analysts said:

"Market analysts and the currency community continue to remain optimistic about the Uptober (October Rally) and the potential bull market. In addition, institutional interest in Bitcoin is also rising with expectations of more spot ETFs."

Santiment’s analysis echoes Loukas’ predictions. As Loukas predicts, if speculative buying continues to increase, the resulting FOMO (fear of missing out) psychology may drive Bitcoin significantly higher.

Additionally, as institutional demand picks up and net inflows into U.S. Bitcoin spot ETFs return, Bitcoin is likely to ride on the bullish narrative in Q4, continuing its four-year cycle.

Source: SantimentSantiment: Investor interest in Bitcoin increased in the fourth quarter

[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.