The phase of a bear market for the cryptocurrency industry looks to be over with Bitcoin (BTC) heading higher.
The period of price uncertainty for the majority of the cryptocurrency industry appears to have ended, and with Bitcoin (BTC) moving in an upward pattern, some crypto experts have suggested that now may be the ideal time to purchase the largest asset by market capitalization before it advances even further.
Since CryptoNoob, a pseudo-crypto analyst, stated on December 5, Bitcoin’s market cap going below the realized cap “represents a once-in-a-lifetime investing opportunity as the whole market slips into unrealized loss zone, which occurs very rarely.”
In addition, the analyst published a chart showing the historical relationship between Bitcoin’s market capitalization and its realized capitalization throughout the years. Similar trends happened in 2012, 2015, and 2019 according to the chart.
Multiple crypto trading gurus forecast an immediate Bitcoin rally, including Mags, who noted that “historically BTC bottoms out 550 500 days before halving, followed by consolidation & an aggressive Pre-Halving run!” and that “the next Bitcoin halving is only 539 days away.”
Earlier, Trader Tardigrade stated that Bitcoin was “under the POC [Point of Control] in Volume Profile analysis,” which is the same scenario that occurred in 2018 “with many knocks onto POC and collapse below it,” adding that “BTC returned enormously” as a result.
Nonetheless, Altcoin Sherpa was also optimistic: At press time, the price of the leading decentralized finance (DeFi) token was $17,283, representing a daily rise of 1.90 percent and a seven-day increase of 6.55 percent as it attempts to recover from a monthly loss of 19.14 percent.
According to CoinMarketCap statistics obtained by Finbold on December 5, Bitcoin’s market cap presently stands at $332.26 billion, maintaining its position as the biggest cryptocurrency by this metric.
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