Crypto analyst says now is ‘lifetime investment opportunity’ for Bitcoin
The period of price uncertainty for most of the cryptocurrency sector appears to be at an end, with Bitcoin (BTC) moving in an upward pattern, some crypto experts have suggested that this could be the perfect time to buy the largest asset by market cap before it goes even further.
As it happens, Bitcoin’s market cap crossing its realized value means “a lifetime investment opportunity as the entire market collectively enters unrealized loss territory, which happens extremely rarely,” as the pseudonymous cryptoanalyst CryptoNoob noted on December 5.
Furthermore, the analyst posted a chart indicating the historical pattern of Bitcoin’s market cap movements relative to its realized value over the years. The chart shows that similar patterns took place in 2012, 2015 and 2019.
Massive rally in store?
Meanwhile, several crypto trading experts are predicting an imminent rally for Bitcoin, including MagsWHO observed that “historically, BTC usually bottoms 550~500 days before halving followed by consolidation and an aggressive Pre-Halving run!” adding that “we are only 539 days away from the next Bitcoin Halving!”
Previously, Trader Tardigrade noted that Bitcoin was “under POC [Point of Control] in volume profile analysis,” which is the same thing that happened in 2018 “with multiple hits on the POC and breakdowns below it,” commenting that “after this, BTC bounced back massively.”
Simultaneous, Altcoin Sherpa was also optimistic:
Bitcoin price analysis
At press time, the decentralized finance (DeFi) flagship was trading hands at the price of $17,283, indicating an increase of 1.90% on the day and 6.55% over the previous seven days, as it moves to recover from the monthly loss of 19.14%.
As it stands, Bitcoin’s market capitalization is currently $332.26 billion, retaining its position as the largest cryptocurrency by this indicator, according to CoinMarketCap data obtained by Finbold on December 5.
Disclaimer: The content of this page should not be considered investment advice. Investment is speculative. When you invest, your capital is at risk.
