Is the Bitcoin, Crypto Bull Market Over? Analysts Weigh In

The Bitcoin and crypto bull market may not be over, according to analysts. Despite a recent correction and drop in price, many experts believe this is just a healthy consolidation within the ongoing bull market. On-chain data platform Santiment reports a shift in market sentiment, with a rise in mentions of the “bull market/cycle” and a decline in FOMO sentiment. The approaching Bitcoin halving, scheduled for April 20, 2024, could potentially contribute to a price recovery. Analysts emphasize the importance of corrections within a bull market and identify key support levels for Bitcoin. Renowned analyst PlanB maintains a bullish long-term outlook, predicting a Bitcoin price above $300,000 in 2025. The historical data surrounding previous halving events also supports the idea of price increases occurring months after the event. However, miners may face challenges due to the halving’s impact on profitability, although some miners with substantial Bitcoin holdings and better capitalization may fare better. Overall, most industry experts remain optimistic about the long-term prospects of Bitcoin.