Exploring the Bitcoin Supercycle Theory: Insights and Expectations
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Unveiling the Bitcoin Supercycle Theory
The concept of the Bitcoin supercycle gained traction during the last significant bull market, with speculation that Bitcoin’s price might soar to $100,000. However, as the market entered a bearish phase, these expectations waned. Now, with Bitcoin’s value surpassing $100,000, the supercycle theory has regained momentum. Analyst Weslad recently highlighted that Bitcoin’s current price may still be far from its ultimate peak if the supercycle remains relevant.
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The Significance of the Main Trend Indicator
The Bitcoin Main Trend Indicator is currently a crucial tool for predicting future price movements. Positioned around the $40,000 mark, this indicator provides Bitcoin with a substantial margin to sustain its bullish momentum. Trading above this indicator signifies that Bitcoin remains in a bullish phase, suggesting the supercycle is ongoing. According to Weslad, if the 3rd Wave of this supercycle completes, Bitcoin’s price could surge to $172,000, representing a potential increase of over 50% from its current level. However, maintaining a position above the Main Trend Indicator is critical, as a drop below it could signal the onset of a bearish market.
The Potential Outcomes of Completing Wave 3
If Bitcoin successfully completes the 3rd Wave, it could affirm the supercycle’s continued presence. Upon reaching the $172,000 mark, Bitcoin may transition into a more bearish 4th Wave, where prices are anticipated to decline. Crypto analysts predict that Wave 4 might erase the gains from Wave 3, potentially bringing Bitcoin back to around $107,000. Despite this dip, it serves as a precursor to the highly bullish fifth and final wave.
Weslad forecasts that the final wave could propel Bitcoin’s price to an astonishing $300,000, drawing parallels to the 2020-2021 bull cycle. During that period, Bitcoin tested dynamic trend lines and achieved new all-time highs despite market fatigue. Thus, Bitcoin may complete all five waves, reaching $300,000 before eventually transitioning into a bear market.
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