“Bitcoin Will Do The Same Thing Again”

Markus Thielen of 10x Research shared a striking analysis about Bitcoin. Thielen warned investors that simple rises will not be seen in the coming period. Analyzing behind the scenes of Bitcoin’s rise in the last year, Thielen predicts a consolidation phase in the coming period.

Thielen, head of research at 10x Research, said that unlike the cryptocurrency community, his short-term view is bearish. According to the crypto expert, short-term indicators show that the market has reached its current peak and will continue to retreat in the near term. Still, Thielen predicts that Bitcoin will enter an accumulation phase at a certain price level. The outlook points more to a bear market than a bull market, Thielen said.

Bitcoin is in the Accumulation Phase Again!

Markus Thielen stated that the Bitcoin scochastic oscillator (a tool used to determine momentum) does not indicate a new bull run. Thielen emphasized that the indicators point to a bear market or a delayed cycle phase. “As a result of the indicators, short-term signals and long-term signals do not match each other. This points to a disconnect in the market.”

Emphasizing that Bitcoin is no longer a simple trading product, Thielen stated that the asset in question has turned into a sophisticated financial instrument.

Although Bitcoin has been in the accumulation phase for the last year, it has managed to reach record highs. According to Thielen, a similar scenario could continue for a while. The crypto expert expects Bitcoin to remain in the consolidation phase like in 2024 and move between $73,000 and $94,000.

Different Opinions on Bitcoin

Unlike Thielen, the number of analysts with different views on Bitcoin is increasing. In particular, the rise of the BTC price from the $76,000 region to $84,000 has convinced many analysts of a new bull season.

Swan Bitcoin CEO Cory Klippsten stated that the BTC price has a 50 percent chance of reaching a new record before June 2025. On the other hand, Bitcoin network economist Timothy Peterson and Real Vision chief crypto analyst Jamie Coutts similarly point to new records in June.