Despite the current bearish trend in the cryptocurrency market, some analysts remain optimistic about the long-term prospects of Bitcoin. Crypto analyst David Eng said that even if Bitcoin ($BTC) is currently in a bear market, its long-term cyclical structure remains intact.
According to Eng, Bitcoin price movements are determined by two key indicators: the 400-day moving average and the four-year market cycle. Based on this data, the analyst estimated the fair value of Bitcoin at around $76,400.
Eng said the current market price is about 20 percent below that level, arguing that $BTCThe company’s current value does not fully reflect its long-term potential.
According to the analyst, this does not indicate a breakdown in the fundamental value structure of Bitcoin. Rather, it shows that the price has temporarily fallen below the long-term adoption trendline. Eng mentioned that Bitcoin has exhibited similar movements in past cycles and tends to return to this trendline over time.
On the other hand, another cryptocurrency analyst, Rekt Capital, believes that the current bear market has progressed significantly. According to the analyst, the current downtrend is approximately 71% complete. However, the downward trend is expected to continue for a few more months.
Expert assessments indicate that despite short-term fluctuations, expectations for the long-term Bitcoin cycle remain largely intact and investors continue to closely monitor market movements.
*This does not constitute investment advice.