- The Bitcoin Everything Indicator screams similarities with the 2017 bull cycle.
- Analyst believes a major run-up will repeat like the 2017 bull pump.
- BTC price predictions for $250,000 cycle top price still hold strong.
Bitcoin’s most recent dip to the $94,000 price level led to an almost immediate price pump to $98,000 then settling the price of BTC at the $96,000 price range. Despite this sporadic move, Bitcoin Dominance continues to hold greater than altcoins showing strength and resilience possibly holding off altseason peak arriving just a little longer.
Bitcoin Dominance Holds Strong
As we can see from the post above, this crypto figure highlights how altcoins just saw a $234 billion drop in market cap over the last 14 days, marking one of the biggest declines ever. The post goes on to say that this level of capitulation looks like a mini bear market for altcoins, while BTC remains strong. Ultimately, this shows a growing divergence between BTC and the rest of the assets in the crypto market.
Bitcoin Everything Indicator Screams Pump
Meanwhile, many reputed analysts are still holding out for a massive BTC rally where the price of Bitcoin is expected to pump bullishly to hit much higher highs in the 6-digit price range. As we can see from the post above, this entity says that the Bitcoin Everything Indicator is screaming similarities to the run-up of the 2017 bull cycle.
The analyst from the post above goes on to say that if history even slightly rhymes, the crypto market is in for much higher prices starting with Bitcoin this year and urges traders to keep a close eye on this metric. According to many seasoned analysts BTC can hit new highs up to $250,000 this bull cycle.