Bitcoin (BTC) is poised for a significant upward movement, mirroring the historical patterns of a major stock index, according to a well-known crypto analyst. TechDev, who has a substantial following of 473,000 on X, suggests that Bitcoin may embark on a bull market that will catch many by surprise. While most crypto enthusiasts observe BTC’s price in terms of four-year cycles based on halving events, TechDev proposes that Bitcoin could be entering the early stages of an eight-year-long surge. To support this claim, the analyst shares a chart drawing parallels between price surges in Bitcoin and the Nikkei, a Japanese stock index that experienced a 15-year rally starting in 1975. However, TechDev warns that deciphering this potential “final leg” may be more challenging than anticipated.

TechDev predicts that the crypto market will soon enter a phase of “mass attention,” characterized by rapid price increases unlike anything seen before. The analyst believes that the current combination of technical factors and market sentiment is setting the stage for the next significant upward movement. When the mass attention phase arrives, it will happen swiftly, with only a few days accounting for the majority of Bitcoin’s gains over the past decade. TechDev emphasizes the importance of timing, highlighting the steep penalties faced by those who enter the market late or remain on the sidelines.

As of writing, Bitcoin is trading at $69,000.

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