The longest bull run in history predicted to be underway; here’s what to know
Bitcoin’s fall below $90,000 caused investors and traders to panic and confuse, but a key market player insists that the bull run is far from over.
On-chain indicators have remained positive, prompting Bitcoin analyst Ki Young Ju, to make a fresh bullish prediction.
“I expect this to be the longest bull run in history, but I could be wrong” Ju writes in a post shared to X.
Making a case for this bullish outlook, he remarks that only another bearish development can force the bulls to take a backseat.
“We need at least another month of data to confirm whether we’re entering a bear market. If demand doesn’t recover, indicators may fully signal a downtrend.” He added.
Per historical market patterns following the two year cycle, the current Bitcoin bull market is poised to last until April 2025. As such, the coming months remain crucial for BTC bulls to target $100,000.
Short-term rebound in view as bulls dangle around the $90,000 price point
While Bitcoin dangles at $94,725, the analyst caps the downtrend at the $77,000 price mark, stating that the chances of the asset dropping to that level appear to be low. However, a consolidation around $77,000 might be recorded before the market makes an upward correction.
Per the Bitcoin fear and greed index, the market is showing extreme fear at this time. Meanwhile, as displayed in the 4-hour chart, a short term rebound is in view for the apex cryptocurrency as the asset builds support around the $90,000 price level.
At the time of this report, Bitcoin is valued at $94,915 per coin, and is up by 12% over the past week.
