- Bitcoin (BTC) is still a long way away from its bull run cycle phase.
- Analyst uses historical data to notice that only 42.3% of progress has been made.
- This supports Bitcoin (BTC) expectations to surge towards massive new ATH in 2025.
With the price of Bitcoin (BTC) at $61,000 we see the steady progress of Bitcoin and the entire crypto market. This slow progress is likely due to the fact that the Crypto Fear and Greed Index is at 39 mirroring market sentiment of ‘fear’.
Bitcoin Has Only Progressed 42% Towards Bull Run Phase
Despite the fear sentiment and the slow recovery of the crypto market, many analysts are bullish and eagerly await the arrival of the ongoing cycle bull run phase. According to one analyst, the progress towards the Bitcoin (BTC) bull market is only at 42.3%, indicating that we are barely reaching the halfway mark.
As we can see from the post above, this progress number is determined based on the standard of Bitcoin (BTC) Halving cycles. As we know, the long-awaited Bitcoin Halving event took place in April earlier this year.
So far, the bull phase occurs around 500 days after this Bitcoin Halving event takes place. Considering that we have only been between 100 and 200 days since the Bitcoin Halving event, the progress bar based on historical activity checks out.
Altcoins and Bitcoin Show Bullish Charge Ahead
Much like many other popular and reputed crypto analysts, Bitcoin (BTC) is set to make incredible new ATH starting from $80,000 to $120,000 until it could hit $220,000. While some remain extremely bullish about Bitcoin setting new ATHs, others expect bearish outcomes.
Just like Bitcoin (BTC), altcoins are also expected to make a massive price surge as well. Based on historical data, altcoins surge to set new ATHs every cycle following Bitcoin (BTC). To put it in perspective, for a popular altcoin VeChain (VET), last cycle it surged by 180x, if it were to do so this cycle, a massive new VET ATH could be set.
The post Bitcoin’s Progress Towards Bull Run Phase is Only 42.3% Complete, Explosive New BTC ATHs Expected appeared first on Crypto News Land.