Is The Bitcoin Supercycle Still In Play? Wave 3 Tells A Story Of A Surge
What’s the Buzz About the Bitcoin Supercycle?
Once upon a time, during the last bull run, the Bitcoin supercycle theory burst onto the scene. Everyone was gung-ho about Bitcoin’s price reaching the epic $100,000 mark. But just like that one friend who always bails on plans when the weather’s nice, those dreams fizzled out faster than we could say “bear market.” Fast forward to now, and guess what? The Bitcoin price is strutting its stuff above $100,000 again, and you better believe those supercycle vibes are back in town!
Wave 3: The Big Tale of Ups and Downs
Analyst Weslad is waving his magic wand and declaring that the Bitcoin price is nowhere near its peak if this supercycle is really in play. And folks, hold onto your hats because the Bitcoin Main Trend Indicator is the shining beacon we’re all looking at to figure out where Bitcoin might be heading next. This fancy indicator sets the bar at around $40,000, providing plenty of wiggle room for Bitcoin to keep its bullish swagger.
Stay Above the Line, Bitcoin!
As long as Bitcoin trades above this Main Trend Indicator, the crypto is still riding high and staying in the bullish territory. Weslad is on the edge of his seat, waiting for the mythical 3rd Wave to finish its saga. If that wave completes its journey, we could be looking at a Bitcoin price blastoff to the moon at $172,000! Now that’s over a 50% boost from where we are right now—time to break out the party hats!
Beware of the Bear!
But wait, there’s a catch! Everything hinges on Bitcoin keeping its nose above the Main Trend Indicator. If it dips below, we might find ourselves in the murky waters of a bear market. If the 3rd Wave wraps things up, it’s straight into the more serious business of the bearish Wave 4. Think of this as the party coming to an end where Bitcoin’s price could start to take a nosedive back down to around $107,000. Yikes!
Final Wave: The Grand Finale!
However, don’t pack your bags just yet! This bearish wave is just a pit stop before we hit the final and most exhilarating fifth wave, which, according to Weslad, could catapult Bitcoin’s price all the way to the staggering heights of $300,000. Remember the 2020-2021 bull cycle? That’s right; Bitcoin is rocking those vibes again! Despite the market’s tired looks, it managed to hit new all-time highs back then. So, is it possible for Bitcoin to ride all five waves and soar to $300,000 before embarking on its next bear adventure? Only time will tell, but let’s keep the popcorn ready!