Even if Bitcoin gains half of what it did during price discovery in 2021, that would still propel it to $150,000, one trader said.
Bitcoin may be in for “insane long opportunities” over the coming months, as traders say BTC has now entered a price discovery phase.
“Bitcoin has begun its price discovery phase for this cycle,” said trader and analyst Daan Crypto Trades on X on Dec. 2, noting that the asset has traded above its previous all-time high for almost a month.
He cited previous gains in the past two cycles amid the price discovery stage; Bitcoin (BTC) went up 1,600% during the 2017 bull market and 245% during the 2021 bull market.
