Analysis: Bitcoin enters price discovery phase, may usher in "crazy bullish opportunities"

Trader and analyst "Daan Crypto Trades" wrote on X today: "Bitcoin has entered the price discovery phase of this cycle," noting that its price has exceeded its previous all-time high for nearly a month, so Bitcoin may usher in "crazy bullish opportunities" in the next few months. He said that the previous rises in the past two cycles came after the discovery phase, noting that Bitcoin rose 1,600% during the 2017 bull run and 245% during the 2021 bull run after entering the discovery phase. He added: "Even if we only complete half of the 2021 gains, the price will still be around $150,000." Capriole Fund founder Charles Edwards commented: "Every cycle, we get 4-7 months of Bitcoin price discovery returns," adding that the first month just happened in November, and Bitcoin rose nearly 40%, breaking the monthly candle record. (Cointelegraph)