Bitcoin awaits ‘trigger to explode upwards,’ according to analyst
Although Bitcoin (BTC) has had lackluster performance in the past weeks and months, this situation might change for the better in the near future, and the maiden cryptocurrency could explode upwards if it finds the necessary catalyst that would provide this push. Specifically, Bitcoin seems to be in the early phases of a bull market, but its price performance is still largely moving in a sideways trend, which would change with a strong enough “trigger to explode upwards,” according to the observations shared by renowned crypto market expert PlanB in an X post on September 16. Bitcoin market cycles. Source: PlanB Indeed, PlanB’s chart shows Bitcoin’s exponential growth from under $1 in 2010 to the projected price of $100,000 in 2025 on a logarithmic scale, with data points categorized into four different market phases – bull market, distribution, bear market, and accumulation – that BTC follows cyclically. ...