How high can Bitcoin fly in this bull market?

Looking at Bitcoin over a ten-year span at the weekly level will give you a very intuitive feeling. Over the years, $BTC has grown in size and its pace has become heavier. The overall upward slope of each bull market has become lower. But without exception, there is always a wave of large slope pull-ups in the last 3 to 5 months.

In this bull market, from the beginning of 23 to the present, Bitcoin has basically been climbing up step by step in the way of climbing stairs. Overall, this bull market is a preemptive move. We don't speculate on the specific reasons. In the end, there is still a wave of large slope pull-ups at the weekly level/cycle of 3 to 5 months.

In each bull market, the capital structure that finally reaches the top is different. At the beginning, there was a small wave of awakeners, and later more and more retail investors rushed in, and then the wealthy and institutions from all over the world. In this round, traditional funds began to enter, and the recent entry of pension funds in several states in the United States is a signal.

So don't worry about insufficient liquidity in the market, retail investors have no money, etc. These are not problems. We don’t need/cannot know the specific source of funds, we just need to believe in the laws of nature, the final pull-up phase of this bull market will definitely come.

In my opinion, 70,000 is a crucial threshold, breaking through this position is likely to start the second half of the bull market. For the high point of this bull market, the conservative estimate is still 100,000~130,000, if it is more broad, it is 100,000~210,000.