$80,000 Range on the Horizon for Bitcoin, Analyst Unveils Triggers for Crypto Super Cycle Start and $100,000 BTC Target

May 20, 2024 at 10:25 AM GST 2 mins read Crypto Live News

Silver-tongued crypto and Bitcoin analyst Doctor Profit shares latest weekly market update.
He says the next leg up for BTC price is over $80,000.
Market makers’ move will trigger crypto super cycle and $100,000 Bitcoin (BTC) price.

Renowned Bitcoin (BTC) and crypto analyst Doctor Profit releases latest weekly update. This week, the silver-tongued analyst explains how the pioneer crypto asset is transitioning into its $80,000 region.

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#Bitcoin – What's Next?

The big Sunday report, all you need to know:

🚩 TA/LCA/Psychological Analysis: Many clowns and wannabe TA experts were silenced this week once again. They were silenced for all their claims that Bitcoin would dump to 50k or even lower. I kept warning you… pic.twitter.com/yWXs5Mt60Y
— Doctor Profit 🇨🇭 (@DrProfitCrypto) May 19, 2024

To start off, Doctor Profit says the price of Bitcoin (BTC) will continue at a steady pace in its sideways movement box. The box, according to him, shows that Bitcoin (BTC) price will not dip below $50,000.

In fact, he confirmed that this box will see the price of Bitcoin (BTC) shift safely between the $58,000 region to that of $68,000. He says this sideways movement could go on for months and the only thing that could trigger a higher spike is the deciding move from market makers.

He says this super cycle that will see new epic all-time highs for Bitcoin (BTC) will propel the price of Bitcoin (BTC) to beyond $100,000. However, the onset of this super cycle will be determined by market makers alone.

After this he confirms that any movement following the long and boring sideways movements will all be upside. He also adds that the success of BTC ETFs will bring in more inflows in the coming months.

As for retail investors, he remarks that most are too scared to make big moves in the market for now. The pump and dumps within the sideways movement will trigger FOMO. Meanwhile, he says AI coins will see a lot of action this week and commends Render Network (RNDR) and FET, along with NVIDIA earning for the week.

Finally, he concludes saying Bitcoin will push forth into the $82,000 – $88,000 region next. He marks this as the next big leg up for Bitcoin (BTC). He concludes by saying that panic-sellers will regret their decision over the last few weeks as Bitcoin still has far to go this cycle and it is just getting started.