The pseudonymous crypto analyst TechDev suggests that Bitcoin and digital assets are in the midst of a massive bear trap. TechDev, in a chart shared with his 467,000 followers on social media platform X, indicates that Bitcoin’s market cycles consist of a series of stages starting with “accumulation” and ending with a bull trap.
Bitcoin’s Cycle Stages
According to TechDev, Bitcoin is currently in the “bear trap” stage. This stage precedes the “renewed optimism,” “FOMO” (fear of missing out), and “euphoria” stages. Afterward, it peaks and enters a bull trap.
Stablecoins Situation
The analyst also believes that USDT dominance in crypto markets is declining and that stablecoins will soon be exchanged on a large scale for other digital assets, which will increase prices.
Bitcoin and Nikkei 225 Comparison
TechDev compared Bitcoin’s historical price movements with Japan’s largest stock index, the Nikkei 225. Based on TechDev’s charts, Bitcoin could rise to $760,000 between 2028 and 2029 and then experience a multi-year bear market.
At the time of writing, Bitcoin’s value is $54,435, showing a slight increase during the day. According to TechDev’s analysis, Bitcoin is currently in a bear trap stage. He believes stablecoins will soon be exchanged on a large scale for digital assets, increasing prices. Bitcoin could reach $760,000 in 2028-2029 and then experience a multi-year bear market.
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