In a notable development, CryptoQuant analyst MAC.D has predicted an imminent bullish surge for Bitcoin (BTC), which could reach as much as $120,000. This projection is based on a detailed analysis of historical market patterns and recent investor behaviors, which point towards a significant rise similar to bull markets of the past.
In a notable development, CryptoQuant analyst MAC.D has predicted an imminent bullish surge for Bitcoin (BTC), which could reach as much as $120,000. This projection is based on a detailed analysis of historical market patterns and recent investor behaviors, which point towards a significant rise similar to bull markets of the past.
A key observation from MAC.D is the notable increase in the proportion of new Bitcoin investors recently, with figures showing an increase to 10.62% for people investing between a day and a week. This metric closely reflects the trends observed during the onset of previous bullish periods, particularly around October 2020 and the peak phases of October-November 2021.
According to MAC.D, such an influx of new entrants often precedes major price swings, suggesting growing interest in Bitcoin that could drive the cryptocurrency’s price higher as more investors enter the market.
Global Interest Spikes and Market Dynamics
The analysis also highlighted the importance of Bitcoin. price spikes in thirty countries last week, illustrating widespread global interest in cryptocurrency. This international commitment indicates a strong influx of new capital, which could generate significant movements in the market.
Despite the optimistic outlook, MAC.D warns of possible market overheating due to the rapid increase in new investments and rising prices. It suggests that while a 20-30% market correction is possible and should be expected due to the volatile nature of the market, such corrections should be viewed as bullish signals and not deterrents.
Investors, according to MAC.D, should prepare for possible fluctuations, considering them natural market adjustments rather than reasons for panic. He believes that if the market follows historical patterns, Bitcoin could skyrocket to around $120,000 following any interim correction.
While MAC.D’s forecast is very optimistic, it serves as a reminder of the dynamic nature of the cryptocurrency market. The renowned analyst also emphasizes the importance of caution, given the unpredictable swings characteristic of the cryptocurrency sector.
