The period of price uncertainty for the larger part of the cryptocurrency sector seems to be at its end, with Bitcoin (BTC) moving in an upward pattern, some crypto experts have suggested this could be the perfect time to buy the largest asset by market capitalisation before it advances even further.
As it happens, Bitcoin’s market cap crossing under the realized cap “signifies a lifetime investment opportunity as the entire market on aggregate goes into unrealized loss territory, which happens extremely rarely,” as the pseudonymous crypto analyst CryptoNoob noted on December 5.
Furthemore, the analyst posted a chart indicating the historical pattern of Bitcoin’s market cap movements in relation to the realized cap over the years. The chart shows that similar patterns occurred in 2012, 2015, and 2019.
Meanwhile, multiple crypto trading experts are predicting an imminent rally for Bitcoin, including Mags, who observed that “historically BTC bottoms out usually 550 ~ 500 days before halving followed by consolidation & an agressive Pre-Halving run!,” adding that “we are just 539 days away from the next Bitcoin halving!”
Earlier, Trader Tardigrade noted that Bitcoin was “under the POC [Point of Control] in Volume Profile analysis,” which is the same thing that happened in 2018 “with several hits onto POC and breakdown below it,” commenting that “following this, BTC rebounded massively.”
At the same time, Altcoin Sherpa was optimistic as well:
$BTC: Mid 16ks around 16.5k would be an interesting level, it's one I'm watching. Still don't really want to see #Bitcoin soundly lose these EMAs on the 4h but a dip under/reclaim would be nice. Still thinking next big move is to the upside. #BTC pic.twitter.com/P7S13oJDox
At press time, the flagship decentralized finance (DeFi) token was changing hands at the price of $17,283, indicating an increase of 1.90% on the day and 6.55% compared to the previous seven days, as it moves to recover from the monthly loss of 19.14%.
As things stand, Bitcoin’s market cap is currently standing at $332.26 billion, retaining its position as the largest cryptocurrency by this indicator, as per CoinMarketCap data retrieved by Finbold on December 5.
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