In the rapidly changing world of cryptocurrencies, an analyst voiced opinions that Bitcoin has not yet reached its peak in the current bull cycle.
Market Analysis
Analyst Cheds, with a following of 49,800 on YouTube, noted that Bitcoin climbed from $74,000 to nearly $110,000, indicating significant momentum in 2025. He pointed out that Bitcoin is trading above multiple moving averages on its weekly charts, suggesting the continuation of the long-term bullish trend.
Historical Context and Current Levels
In 2021, Bitcoin attempted but failed twice to surpass the $69,000 mark, leading to a prolonged downturn to $16,000. The analyst remarked that current conditions do not suggest a similar pullback is imminent.
Current Situation and Analysis
Bitcoin recently hovered around $100,000, currently trading at $101,957. Investors are closely watching recent price activities. The analyst assesses that these movements are not sufficient to disrupt the general trend and bullish momentum exists.
Despite the potential risks inherent in cryptocurrency market fluctuations, current price behavior may indicate lessons learned from past mistakes. Close monitoring of important support and resistance levels is recommended.
