On September 16, COINOTAG news highlighted insights from renowned crypto analyst PlanB, who remarked on the current market conditions through social media. “The market continues to exhibit sideways trading behavior, hovering around the 60k mark, presenting a re-entry opportunity for investors. Despite being in a bull market, Bitcoin’s significant price surge is yet to materialize. Miners are grappling with the impact of the recent halving event, necessitating a doubling of Bitcoin’s price to ignite a true bull market,” he noted.
In support, prominent cryptocurrency expert Willy Woo responded, “At the present valuation of BTC, profitability post-halving will be viable only for the latest mining equipment models. Historical data illustrates that now is often an optimal period to purchase BTC and leverage the latest mining hardware.” Woo’s commentary reflects a strategic perspective on market timing and technological advancements in mining operations.
Source: https://en.coinotag.com/breakingnews/bitcoin-bull-market-predicted-analysts-highlight-key-entry-points-and-mining-profitability/