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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Here’s Where We Are In The Bitcoin Bull Cycle According To The Wall Street Cheat Sheet

Scott Matherson
Scott Matherson
8 months ago
3 mins read
Bitcoin bull market

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The Wall Street Cheat Sheet has been around for years now and is often passed around in finance circles, so Bitcoin has not been left out. The cheat sheet shows different stages of each market cycle, using sentiment to track where in the cycle a particular asset is. With the Bitcoin market seeming to be stuck in limbo, a crypto analyst has applied the information from the Wall Street Cheat Sheet in an effort to show where we are in the bull cycle.

Bitcoin Cycle Moves Into Belief

The different stages of the Wall Street Cheat Sheet represents different sentiment in the market and it could help to predict where the Bitcoin price is headed next. According to the crypto analyst Mags who has over 89,000 followers on X (formerly Twitter), the Bitcoin market has currently entered the ‘Belief’ stage.

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Belief is the stage that comes after Optimism, which the crypto analyst puts at around the time the Bitcoin price hit its $73,000 all-time high earlier in the year. The drawdown was expected, leading to this next stage, which is now Belief.

What this means for the Bitcoin price is that there could be a continuation of the bull rally. This is because with Belief comes more confidence in the market, and as investors take more bets, the BTC price will rise as a result from here.

Basically, the crypto analyst’s post suggests that the Bitcoin bull market is far from over. If the Wall Street Cheat Sheet is anything to go by, then the BTC bull run could only be in its beginning stages with a long way to go as Belief drives its price toward $90,000.

BTC Price Could Touch $300,000

Using the Wall Street Cheat Sheet shows that Belief is far from the top of the Bitcoin bull cycle. If anything, it is the confirmation of the ongoing bull market. The next stage is the ‘Thrill’ where investors are making a lot of money from their trades. At this point, more money is flowing into the market to sustain the rally.

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The last stage of any Bitcoin bull cycle according to the Wall Street Cheat Sheet  is the ‘Euphoria’ stage. This is when investor are completely on board with the Bitcoin bull market and is a time of peak bullish sentiment. At this stage, the analyst’s chart suggests that the BTC price could touch as high as $300,000.

However, this stage often marks the top of the market and the euphoria will often not allow investors to realize that the run is over. Once this stage is completed, the Bitcoin price could turn really quickly and lose over 50% of its value as it has done in the past.

Bitcoin price chart from Tradingview.com
BTC bulls push for new highs | Source: BTCUSD on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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