Analyst Says Bitcoin Has Entered The ‘Thrill’ Phase, Here’s What To Expect Next 📈
Crypto analyst Ash Crypto has identified that Bitcoin is now in the 'thrill' phase of its bull cycle. During this phase, high volatility is expected, along with potential liquidations. However, the trend is predicted to be upward, aiming for new all-time highs, possibly reaching $150,000.
The thrill phase typically sees investors get overexcited and heavily leveraged, resulting in potential liquidations despite a bullish trend. Ash Crypto's analysis suggests caution, as corrections often follow fresh highs, flushing out over-leveraged positions.
Alex Thorn from Galaxy Research has warned that bull markets are not linear, and sudden corrections should be expected. This means that even with upward trends, price drops might occur.
Analyst Ali Martinez notes potential short-term declines as Bitcoin appears overbought. With $93,000 recently reached, large liquidations and subsequent corrections are possible, especially as investors secure profits.
External factors like US PPI inflation data have impacted prices, raising concerns about the Federal Reserve’s rate decisions. These economic factors could influence further market corrections.
Currently, Bitcoin trades at approximately $87,780, reflecting a slight decline as the market recalibrates in response to ongoing developments.
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