Bitcoin price will hit $330K this bull cycle Analyst – Cointelegraph

Independent market analyst Arsen remains unfazed by the recent dip in Bitcoinsprice, predicting a monumental rebound to $330,000 in the current bull cycle.

Arsen argues that smart money institutional investors, market experts and other financial professionals has accumulated Bitcoin (BTC)during its recent correction cycle, indicating its long-term bullish bias for the top cryptocurrency.

Thats because this dip is nothing new, the analyst noted while referring to Bitcoins previous bull cycles, which occurred every four years and witnessed explosive price growth.

For instance, Bitcoins first bull cycle in 2012 lasted 800 days and saw its price rise by a whopping 9,000%. The next cycles, in 2016 and 2020, lasted for around 800 days, and BTCs price surged by approximately 3,000% and 1,200%, respectively.

Notice how, in every consecutive cycle, the Bitcoin returns get smaller by about ~60%, Arsen wrote, adding:

The Bitcoin price prediction, nonetheless, comes amidst a sharp correction, with BTC down around 23% from its all-time high of around $74,000, established just four months ago.

As of July 11, the flagship cryptocurrency traded at a subdued $57,000. Its recent losses were led by the ongoing Mt. Gox reimbursement to clients and the German governments aggressive BTC sell-off. Nonetheless, data from CoinShares show that institutional investors were buying the dip.

In addition, a weekly report by the onchain analytics platform CryptoQuant noted that Bitcoins large investors, or whales, have continued to increase their holdings during the recent price decline.

Excerpts from the report:

Bitcoins ongoing correction is far from bottoming out, according to some analysts, but most remain convinced about a long-term bull scenario akin to Arsens $330,000 price target.

For instance,Markus Thielen, an analyst at 10x Research, suggests BTCs price will likely drop toward $50,000 in the coming weeks due to a double top formation. Double tops are considered bearish reversal patterns, as illustrated in the chart below.

Michal van de Poppe, founder of MN Capital, alsoholdsa short-term bearish outlook for Bitcoins price.

The market analyst anticipates that Bitcoin will break below the May 1 low of $56,000 to tap into the demand-side liquidity beneath it, ultimately falling further to around $52,800.

Another market analyst, Apsk32sees a correction until October, followed by a 300% rally into 2026.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Bitcoin price will hit $330K this bull cycle Analyst - Cointelegraph