Bitcoin Price Stalls Below $68,000, But: ‘The Bull Market Is Going To Last Longer,’ Says Industry Expert
Bitcoin‘s (CRYPTO: BTC) price remains subdued, trading at $67,900, a modest 1.2% gain on Friday morning.
What Happened: This comes despite reaching near $69,000 earlier in the week, according to CoinGecko data.
The leading cryptocurrency currently sits 8% below its all-time high of $73,737.
Ethereum (CRYPTO: ETH) also saw a modest 0.5% uptick, reaching $2,540.
Yet, analysts suggest the market could face new pressures as volatility and U.S. election concerns weigh on investor sentiment.
Speaking with Benzinga, Injective CEO Eric Chen noted that Bitcoin’s typical four-year cycle may be stretching into a longer phase, potentially leading to steadier but slower gains.
Injective CEO Eric Chen points to a shift from Bitcoin’s traditional four-year cycle, suggesting the cycle may now be extending, resulting in potentially steadier, longer growth instead of dramatic price swings.
“The bull market is going to last longer or taper in a more steady cycle,” Chen noted, as Bitcoin’s recent approach to $70,000 was …
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