FOMC

2024

Bitcoin

<p>The post <a href="https://coinpedia.org/news/bitcoin-enters-phase-2-of-bull-run-says-top-crypto-analyst-heres-what-to-expect-now/">Bitcoin Price Soars Above $64,000: Bull Run Phase 2 Begins?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin</a> has stormed back into the spotlight, reclaiming its position above the <a href="https://coinpedia.org/news/here-is-why-the-crypto-market-is-up-today/">$64,000 mark</a> today. This resurgence, however, spells trouble for short sellers, who have seen over <a href="https://www.coinglass.com/LiquidationData">$150 million</a> worth of their positions wiped out in just a day.</p> 
<p>However, Crypto expert Titan of Crypto confidently declares that Bitcoin is now entering the second phase of its bull run, potentially setting the stage for a profitable period for investors.</p> 
<p>Here’s why.</p> 
<h2 class="wp-block-heading" id="h-welcoming-the-bitcoin-bull-run">Welcoming the Bitcoin Bull Run </h2> 
<p>As <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin’s price</a> shoots back up to match last week’s highs, Titan of Crypto sees this as the starting gun for a bullish rally. They suggest that the necessary price dip before a Bitcoin rally has happened, signaling the beginning of the second phase of Bitcoin’s bull run.</p> 
<p>A monthly Bitcoin chart shared on social media reveals intriguing parallels from previous cycles. The current cycle mirrors trends from the last three cycles, hinting at potential price surges.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is in phase 2 of the Bull Run. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2649.png" alt="♉" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>In bull markets, corrections are inevitable and should be seen as opportunities to reload your bags. <br><br>Are you not entertained? <br>Enjoy every part of the ride. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f91d.png" alt="🤝" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/LatOWiG8U4">pic.twitter.com/LatOWiG8U4</a></p>— Titan of Crypto (@Washigorira) <a href="https://twitter.com/Washigorira/status/1786682751321612378?ref_src=twsrc%5Etfw">May 4, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Analysts speculate that if Bitcoin breaks away from this repeating pattern, its price could soar. According to projections, a break from this established pattern could push Bitcoin’s value to around $120,000 by early 2025.</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p><em>“In bull markets, corrections are inevitable and should be seen as opportunities to reload your bags.”</em></p> 
</blockquote> 
<p>Also Read: <a href="https://coinpedia.org/news/trading-legend-peter-brandt-says-bitcoin-to-skyrocket-to-125000-heres-why/">Bitcoin Price Prediction: Trading Legend Peter Brandt Bets Big With $125,000 Target</a></p> 
<h2 class="wp-block-heading" id="h-not-corrections-but-opportunities">Not Corrections, But Opportunities </h2> 
<p>Experts emphasize that in bull markets, corrections are not setbacks but chances to strengthen investment portfolios.</p> 
<p>Another prominent crypto analyst, Michaël, is bullish about Bitcoin’s future. In a recent tweet, he highlighted <a href="https://coinpedia.org/news/top-reasons-why-bitcoin-and-altcoins-are-up-today/">Bitcoin’s resilience</a> amidst economic data and the <a href="https://coinpedia.org/news/analyzing-the-impact-of-the-latest-fomc-meeting-on-bitcoin-and-cryptocurrency-markets/">FOMC’s decision</a> to maintain interest rates until November 2024.</p> 
<p>Van de Poppe sheds light on the pre-FOMC sell-off, a typical market phenomenon often causing crypto price dips before such events. Furthermore, poor economic data has made it a tough week for the Dollar Index (DXY), potentially driving investors towards assets like Bitcoin.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> bounces back upwards.<br><br>– The bottom hit around FOMC as pre-FOMC crypto almost always sells off.<br>– Bad economic data creating a lousy week for the <a href="https://twitter.com/search?q=%24DXY&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DXY</a>.<br><br>Expecting a correction to $60-61K to hold and then a steady continuation within this range. <a href="https://t.co/lOTbYwaz19">pic.twitter.com/lOTbYwaz19</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1786696530423930921?ref_src=twsrc%5Etfw">May 4, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin Price Analysis </h2> 
<p>Despite recent fluctuations, van de Poppe remains optimistic about Bitcoin’s short-term outlook. He expects a correction to stabilize within the $60,000 – $61,000 range, predicting continued stability within this price bracket.</p> 
<p>As of now, Bitcoin is trading at $64,295, marking an impressive 8.6% increase over the last 24 hours. The cryptocurrency’s market capitalization stands at $1.26 trillion. Additionally, trading volume has surged by 16% to reach $33.4 billion, showcasing heightened activity and investor interest in Bitcoin.</p> 
<p>Did You Know? <a href="https://coinpedia.org/news/bitcoin-maximalist-michael-saylor-predicts-xrp-eth-bnb-and-ada-to-never-have-etfs/">Bitcoin Maximalist Michael Saylor Predicts XRP, ETH, BNB, and ADA to Never Have ETFs</a></p> 
<p><strong>What are your investment strategies for this potential Bitcoin bull run?</strong></p>

Bitcoin Price Soars Above $64,000: Bull Run Phase 2 Begins?

Table of Contents

CoinPedia News

Other articles published on May 4, 2024

Just-In: Bitfinex Suffers Data Breach, Tether CEO Says “Seems Fake”

Grayscale’s Bitcoin ETF GBTC Sees First Inflow Day Of $63M Since Launch

$38 Million Worth of BlackRock's IBIT Scooped Up by Hong Kong-Based Asset Management Firm

The first-ever Bluetooth connection with a satellite has been made possible by Hubble Network.

Decoding Shiba Inu’s descending triangle – Is an 18% price drop coming next?

Sui Network Clarifies Misconceptions About Token Supply, Will Price Rally?

Join our free newsletter for daily crypto updates!