Bitcoin Bulls Might Need To Wait Till December In ‘Murky’ Market, Veteran Analyst Cautions
By Benzinga
Renowned crypto analyst Bob Loukas has sparked debate with his latest insights on Bitcoin’s future, balancing short-term uncertainty with long-term optimism.
In a tweet on Aug.14, Loukas candidly admitted to feeling uncertain about Bitcoin’s intermediate-term prospects, describing the current market as “murky” with “forces pulling from all directions.” Despite this ambiguity, he stated he had recently added to his spot holdings, suggesting underlying confidence in Bitcoin’s long-term potential.
Loukas sees Bitcoin as currently in a “massive accumulation zone” following recent market flushes. He cautions that significant price action may not materialize until mid-September at the earliest, with the possibility of range-bound trading extending into December.
“Bulls might need to wait through until the Dec weekly cycle low, a 9-month range,” Loukas noted.
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While acknowledging the possibility of further lows, Loukas warned that such a development could severely test spot holders and potentially challenge the entire bull market narrative. He emphasized the psychological challenges of investing, stating, “At deeper lows, the entire bull market narrative would be questioned and unfortunately by then, probably far too late to want to take action. Ah…the joys of investing.”
Despite short-term uncertainties, Loukas remains bullish on Bitcoin’s long-term prospects. He confidently asserted, “I see no reason to doubt the 4-Year Cycle high is still ahead in mid/late 2025, at a 6-digit print.” Loukas also dismissed concerns about the potential impact of the upcoming U.S. election on Bitcoin’s performance.
Concluding his analysis, Loukas offered a philosophical perspective for long-term Bitcoin believers: “If you’re patient, and a believer, then it’s just your battle with time.” This statement summarizes the beliefs of most crypto community members, even in the face of short-term market volatility.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock
