To prove it, the analyst spoke about bitcoin's previous bull cycles in 2012, 2016 and 2020. According to Mr. Tokhagapsov, in 2012, BTC rose from a modest price of $12 to $1,000, recording an outstanding 9,000% increase in value.
After this cycle, the #cryptocurrency experienced another significant rise in price in 2016, from $650 to $19,000, a remarkable 3,000% increase; in 2020, despite the market volatility at the time, #bitcoin #rose from $8,000 to an all-time high of $69,000. It rose sharply, showing a significant 1,200% increase in price.
Based on this recurring bullish trend, Tagapsov predicts a 450% increase in the value of #BinanceTurns7 to $330,000 in 2024. During each four-year cycle, Tagapsov counts down approximately 800 days until bitcoin begins its bullish rise. Based on his price charts, the market has already entered the bullish phase, which is gradually gaining momentum and will soon reach all-time highs. Despite Tagapsov's optimistic outlook, bitcoin is in a serious downtrend and is facing significant volatility and price declines as the market continues to fluctuate. Various analysts have predicted massive gains for BTC in this bull cycle, but in recent weeks the cryptocurrency's value has fallen below the $60,000 mark.
According to cryptocurrency analyst Ali Martinez, the cryptocurrency market is showing extreme fear, which could be due to the falling value of bitcoin and mass liquidation. According to CoinMarketCap, BTC is trading at $58,041 at the time of writing, with a 14% drop in price over the past month.
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