A crypto analyst has stressed the importance of staying invested in Bitcoin (BTC)who predicted a significant breakout to the upside. Despite The previous BTC price crash and market volatility, the analyst remains optimistic about the cryptocurrency’s future prospects.

Bitcoin Bullish Surge Incoming

In an X (formerly Twitter) after On August 20, a crypto analyst known as ‘CryptoCon’ shed light on the current state of Bitcoin with a detailed price chartThe analyst is confident that the most exciting part of the BTC market cycle is just around the corner.

CryptoCon has suggested that exiting BTC now is tantamount to exiting the market before the market recovers completelyHis bullish expectations of Bitcoin are based on a metric called the “Puell Multiple cycle.”

The Puell Multiple cycle is a metric that compares Bitcoin’s daily issuance value to its average over the past year. CryptoCon points out that BTC has historically exhibited predictable patterns of resistance and support levels during its cycles on the Puell Multiple.

This suggests that Bitcoin is currently at a low point and is poised for a major upward rally. Share a price chart that follows Bitcoin Price Movements from 2010 to 2026, the analyst highlighted all the bull cycles that BTC has gone through over the years.

The analyst noted that Bitcoin has consistently reached mid-cycle peaks before making a significant move higher. bull market. In August 2012, BTC reached a mid-top, leading to an explosive bull run in 2013. The pattern repeated in June 2016, when it reached another mid-cycle peak that preceded a bull run in 2017. Finally, Bitcoin reached a mid-cycle high in 2019, setting the stage for a dramatic bull run in 2021.

Based on this historical bull patternsthe analyst suggests that BTC reached its mid-cycle top in March 2024, when BTC all-time high of over $73,000CryptoCon therefore predicts that Bitcoin will experience a boom by 2025.

BTC Megaphone Signals Impending Breakout

In another X-message, a popular crypto analyst identified as ‘Jelle’, expressed bullish predictions for the future value of Bitcoin. The analyst highlighted a unique Wedge/Megaphone pattern in the price chart of BTC. This pattern is characterized by its distinct shape that resembles a megaphone or cone.

Jelle revealed that this unique pattern often indicates that a cryptocurrency is about to move higher. He believes that once Bitcoin Price Correction ends, the cryptocurrency is likely to break out of the Megaphone pattern in an upward direction, leading to significant price increases.

Based on this pattern, the analyst predicts that BTC could potentially reach the $2,000 mark. new all-time highs by the fourth quarter (Q4) of 2024. At the time of writing, the price of Bitcoin is trading at $59,460 according to CoinMarketCap.

Main image created with Dall.E, chart from Tradingview.com