Bitcoin has rebounded from its recent drop to $57k and is now on track to reach its all-time high (ATH). Despite the temporary fear in the market, renowned analyst Doctor Profit has reassured the community that the BTC bull run is far from over and has encouraged investors to buy the dip. Currently trading above $63,500, Bitcoin’s market status was analyzed by Doctor Profit on X platform. In addition to Bitcoin, the analyst also recommended holding onto spot bags of NEAR, SUI, and XRP.
Doctor Profit emphasized that many individuals acted out of fear rather than rationality when responding to his previous prediction about the Bitcoin bull run. He mentioned that those who panicked and did not buy the dip wasted valuable time, as he foresees Bitcoin reaching levels above $68,538 in the near future. He advised investors to closely monitor the fear & greed index for potential profit opportunities.
The analyst highlighted the recent shift in the fear & greed index from greed to fear within just seven days, labeling it as a prime opportunity for profit-making. Pointing out Bitcoin’s reclaiming of MA100 daily and weekly closing above that level, Doctor Profit recalled his accurate prediction from 2021 when Bitcoin was priced at 60k, despite facing skepticism. He urges patience among investors and reminds them of the significance of USD printing and the approval of BTC ETFs as indicators of the ongoing bull run.
Looking ahead, Doctor Profit speculated that Bitcoin could surge from 40k to 74k based on current trends and developments in the market. However, he cautions investors to exercise caution and patience during this crucial period of market volatility.
