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Bitcoin (BTC) About to Enter 'Hope' Market Stage – Close to 'Euphoria,' Analyst Says

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Bitcoin about to take first step toward a massive price surge, ali_charts claims. $BTC

price in the near future. He posted a diagram of the stages of the psychology of a market cycle to show where he believes BTC is by now.

According to his tweet, he seems to be bullish on BTC as the flagship cryptocurrency is about to enter a positive stage.Martinez posted an image of"The Wall Street Cheat Sheet,"that explains the emotions of traders that change as the market goes through different stages. The analyst believes that Bitcoin is about to enter the"Hope" stage on this chart of emotions. In this stage, making the first price rally, an asset reaches the point of temporary consolidation and retracement. However, investors reckon that the asset has great potential for a further rise. At this stage, investors who stayed away during the first rally start to gradually come in.

 

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