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Reported by Cointelegraph, despite Bitcoin surpassing $71,000, the bull cycle is only starting, according to Willy Woo, a Bitcoin analyst and managing partner at CMCC Crest. Woo's analysis is based on a composite of various metrics set to gauge investor behavior. Woo wrote in a March 11 post on X:
“BTC at 71k puts us here in visual of the upper and lower bound models. The upper bound right now is $337k. So this bull market is still early, equivalent to 20k of last cycle.”
Furthermore, the Bitcoin Macro Index broke the upper blue band this week, which signals that “we are in a full fundamentals-driven bull market,” noted Woo, sharing the chart below.
Meanwhile, the current bull market dynamics might result in an earlier macro top compared with previous cycles, argued analyst Rekt Capital. He wrote in a March 11 X post:
“If the accelerated perspective turns out to be true, then the next bull market peak may thus occur in 266 - 315 days. That’s December 2024 or February 2025.”
Additionally, Bitcoin analyst CryptoCoin also expects Bitcoin’s four-year cycle to accelerate by as much as one year. The analyst wrote in a March 11 X post:
“With #Bitcoin entering price discovery mode and new ATHs a year earlier than usual, we may be witnessing the death of the 4-year cycle. Our before, perfectly structured cycles would have called for a top late 2025, but we seem to now be right on track for a top late 2024.”
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