Time for a new lineup or more crashes?

TL; DR

Bitcoin fell below $54,000 and experienced a significant correction. Some see this as the end of the bull market, while others believe it is a normal part of Bitcoin's growth and recommend holding on. Many analysts predict a future rally based on historical patterns and the recent halving, although a few suggest that the bull run may peak due to recent events such as Bitcoin ETF approvals and meme coin trends.

End of Bull Market or Normal?

The main cryptocurrency recently experienced one of its most severe corrections since the beginning of 2024 Cryptopotato reportedThe price was briefly below $54,000 for the first time since February.

And while some may take that as a sign that the bull market may be over, others argue that it's just such a failure. Common And part of BTC's expansion path. of Famous X user Il Capo of Crypto It is mentioned But the market's sharp decline suggests investors should not “reverse the bearish.”

“It's time to slow down and keep a good head. Temporarily wrong but hold firmly. Time will tell,” added the analyst.

Crypto Tony It has been shared. A similar position, stating that the recent market crash cannot be compared to the entire bright year (so far) of the cryptocurrency industry:

“Put things into perspective. If you panic, and then Hey you easily It is bought too high and may be in opposition without any plan.

Mikibul Crypto and Rect Capital are among the crypto enthusiasts predicting a BTC rally. coming soon Based on the historical performance of the asset. The former He remembered of A similar correction in Q3 2023; which one has been Later it was replaced In a new bull run.

The leader of Rect Capital thinks that the digital asset should not benefit from the BTC halvingWhat happened In April this year. The analyst noted that after halving in 2016, the price in 2020 has risen for more than 500 days.

“If history repeats itself and the next peak of the bull market occurs after the 518-546 day halving… this means that in mid-September or mid-October 2025, Bitcoin could be at the top of this cycle.

Halving is an important event. It happens Approximately every four years And Miners' rewards are halved for confirming new blocks on the BTC blockchain. Historically, the process exists. Followed A major renaissance for mainstream cryptocurrency and the entire market.

Desperate situation

Some of them are worth mentioning. Analysts have suggested that BTC's rally may be over. One example is X user Ali Martinez, who speculates that the approval of Bitcoin ETFs, meme coin mania, and celebrity-promoted tokens may be all this bull run has to offer.

In this cycle, we've seen #Bitcoin ETFs, #memecoin mania, and celebrities launching their own #altcoins!

But what if that was the case? What if we've already felt a sense of excitement, thinking, “We need to cool down for the next rally,” and now we feel calm? pic.twitter.com/aTCuppjTPF

— Ali (@ali_charts) July 4, 2024