The post Bitcoin Hits 3-Month Highs $67,678 But Is the V-Shaped Recovery Off the Table? appeared first on Coinpedia Fintech News
Bitcoin just shot up by 3.8%, hitting its highest point of $67K since July! With big money flowing into ETFs and good news from U.S. policies, market confidence is on the rise. But hold on! Crypto expert MartyParty warns that we might not get the quick “V-shaped” recovery that many investors are dreaming about before the next big bull run. What does this mean for Bitcoin’s future?
Bitcoin Primed for Steady Growth
In a recent tweet, MartyParty noted that unlike in 2013, when Bitcoin had two quick rebounds before a big price surge, other bull runs — like those in 2017 and 2021 — didn’t have the same pattern. He thinks that Bitcoin’s current behavior is matching these past cycles and may be building up slowly before global market forces drive its price higher.
Notice we might not get the V shaped recovery before the bull run. Only 2013 did it play out twice. 2017, 2021 and currently no big pullback. We are exactly where we always are before global liquidity pulls Bitcoin up. pic.twitter.com/tb1lexWE8z
— MartyParty (@martypartymusic) October 15, 2024
MartyParty’s observation suggests that the market might see a steadier rise rather than a sudden jump, which could be encouraging for investors worried about recent price drops.
He believes that the lack of a sharp pullback might show strength and stability in the market, as Bitcoin has often gained value gradually after calm phases.
V-Shaped Recoveries
Historically, V-shaped recoveries occur when a quick drop in prices is followed by an equally swift recovery, creating a sharp upward trajectory. MartyParty’s analysis suggests that, like in past cycles, Bitcoin may not experience this sudden rebound.
Instead, the current phase is typical of a “pre-bull” period, where steady price action builds a foundation for the next major upswing.
Meanwhile, by pointing to Bitcoin’s history of growth during quieter times, he hints that today’s market conditions could set up a solid base for Bitcoin’s next rally.
Bitcoin Ready for a Big Surge?
New research shows that Bitcoin’s price moves in sync with global liquidity a staggering 83% of the time! This makes Bitcoin a special indicator of market trends. While short-term price swings can happen, the long-term connection remains strong. With global liquidity at record highs, many experts believe Bitcoin could be gearing up for an exciting bull run soon!
