### Bitcoin Enters 'Chop Season' โ What Does This Mean for Price?
Bitcoin has entered what crypto analyst ShardiB calls 'chop season,' a period marked by sideways movement and a struggle to break out to new all-time highs (ATHs).
#### What Is 'Chop Season'?
According to ShardiB, chop season means Bitcoin will experience more sideways trading, failing to break out of its current price range. Despite several attempts, Bitcoin has not managed to maintain a position above $70,000. ShardiB advises buying Bitcoin now and holding it through this period.
#### Analysts' Insights
- **Michael van de Poppe**: Believes a breakout from the current range will trigger a bull run and push Bitcoin to new ATHs.
- **Rekt Capital**: Suggests Bitcoin is one breakout away from a parabolic phase, potentially starting with a weekly close above $69,000. However, current trends indicate this phase might still be weeks away.
- **Arthur Hayes**: Predicts chop season will last until August, with Bitcoin ranging between $60,000 and $70,000 until then.
#### Potential for a Breakout
Crypto analyst Mikybull Crypto sees a possible breakout sooner than expected, pointing to a broadened wedge pattern on the daily chart. He predicts Bitcoin could reach $85,000. Similarly, BitQuant anticipates a significant move soon, potentially driving Bitcoin to $92,000, following a pattern similar to its rise to $73,000 earlier this year.
In summary, while Bitcoin is currently in chop season, analysts believe a breakout is on the horizon, possibly leading to substantial price increases.
