Bitcoin's next big move: Analysts predict it could surpass $71,500.

Famous cryptocurrency analyst Checkmate's "Xinkuai Bull Market" theory has ignited people's optimism. According to Checkmate, setting a new all-time high may indicate a significant shift in market sentiment. This bull market phase will represent a significant acceleration of bullish momentum, potentially leading to a substantial price increase.

Checkmate's theory is based on the Market Value to Realized Value (MVRV) ratio, which compares the current market value of Bitcoin to the total value paid for all Bitcoins in circulation. Historically, when the MVRV ratio climbs above one standard deviation from its average, it often indicates a shift to a "joyful bull market" phase.

However, Checkmate warns that Bitcoin does not always follow the script on the first attempt. The market often exhibits cautious behavior, and Bitcoin may make multiple attempts to break through this key MVRV level before achieving a decisive breakthrough.

Bitcoin's recent consolidation period occurred after the surge of Alpha Cryptocurrency to a six-week high of $71,950. Despite a slight pullback, Bitcoin is still comfortably trading near the $70,000 level, with healthy daily trading volume. This price action suggests a pause before the next significant move, making it a tense waiting game for traders and investors at the moment.

Rekt Capital, a cryptocurrency analyst, has become a key voice in this ongoing debate. Rekt Capital believes that closing above $71,500 on the weekly candle chart could be a significant catalyst. If this milestone is achieved, it could trigger a surge in bullish momentum and propel Bitcoin towards a significant rise.

However, Rekt Capital also acknowledges the possibility of an extended consolidation phase. Historically, Bitcoin has shown a tendency to consolidate within a reaccumulation range for several weeks before experiencing a breakthrough. Rekt Capital believes that this expanded consolidation will bring Bitcoin closer to the historical halving cycles that have occurred before major bull markets in history.

Meanwhile, other analysts predict that 2025 could be a landmark year for leading cryptocurrencies globally. Driven by historical price trends and upcoming Bitcoin halving cycles, the high-end forecast of $168,459 represents astonishing potential growth. Supporting this optimistic sentiment are technical indicators pointing to a "bullish" market sentiment and a significant amount of "extreme greed".

However, reality is necessary. The huge difference between the predicted highest price and the lowest price ($69,971) highlights the inherent uncertainty in these predictions. The notorious volatility of Bitcoin is evident in the 4.47% price fluctuation in the past 30 days, which further complicates things. While this level of greed indicates investor confidence, it may also be a warning signal of a potential market adjustment.

(DataSource: Christian Encila)