Bitcoin Bull Run Continues: Analyst Signals Optimism

Bitcoin is back on track towards its ATH after triggering fear by falling to $57k. Nonetheless, a well-known analyst Doctor Profit has again persuaded the community members to buy the dip as the BTC bull run is reportedly not over yet. Bitcoin is trading above $63,500 mark. The analyst took to X to provide insights into the current market status of Bitcoin. Not just $BTC, he also advised to HODL spot bags of $NEAR, $SUI, and $XRP.

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TA/LCA/Psychological Analysis: A lot of noise this week, as people couldn't believe to see how DrProfits' prediction went wrong according to their low IQ. Just to realize a few hours later that Doc was… pic.twitter.com/vemAr1xufv

— Doctor Profit (@DrProfitCrypto) May 5, 2024

Doctor Profit Says Bitcoin’s Bull Run Has Not Finished Yet

As per the analyst, several people have been buying fear concerning the performance of the top crypto. He highlighted his recent prediction regarding the Bitcoin bull run which was mocked by many. The analyst added that, rather than buying the dip, such people just wasted a lot of time. He disclosed his prediction for the levels above $68,538 in the coming time. In this respect, he advised the investors to keep watching the fear & greed index.

According to Doctor Profit, the index shifted from greed to fear only in seven days. He indicated this phase as the golden opportunity for those who intend to make a profit. He added that Bitcoin has regained MA100 daily along with closing weekly above that. He also pointed toward his prediction back in the year 2021 when the top crypto was standing at 60k. At that time, Doctor Profit anticipated its decline to 18k.

The Analyst Advises the Investors to Exercise Patience

Following that, when the token reached the above-mentioned point, he reportedly requested the investors to buy the dip. However, people started speaking against him as the token further dipped to 16k. Despite his suggestions, many kept on thinking that Bitcoin would even reach $10k or more lower. At present, he added, USDT is conducting massive printing.

Moreover, the approval of the BTC ETFs is another sign of the bull run. Keeping all these things in view, Bitcoin can reportedly jump from the 40k mark to 74k. Nevertheless, he advises the investors to be patient at that moment.