Famous cryptocurrency analyst PlanC once again shared his views on the bull market after Bitcoin exceeded $ 100,000.
PlanC said that the rise experienced in this cycle has a different structure than the 2017 bull market. Recalling that there were frequent sharp corrections and rapid recoveries in 2017, the analyst stated that the current cycle progresses with fewer and lower-rate corrections.
“The shape of the negativity in this cycle is more about temporal corrections. So even if the price does not pull back, long periods of sideways movement create insecurity in investors and push them away from the market,” he said.
PlanC argued that during this process, investors may have false perceptions that the bull market is over, and that fear-based narratives come to the fore, especially during periods when the market is directionless and weak.
However, the analyst claimed that these horizontal and downward corrections were actually healthy for the market, and stated that the rise continued with stronger foundations:
“This cycle presents a healthier and more sustainable bull market, supported by real and meaningful adoption.”
*This is not investment advice.
