Analyst: Bitcoin has only undergone a "normal adjustment," and the peak of the cycle has not yet arrived.

PANews March 19 news, according to Cointelegraph, Collective Shift CEO Ben Simpson stated that Bitcoin’s pullback from January’s peak is a typical cyclical adjustment and is not unusual, and the price top has not yet been reached. Simpson said, “I believe the bull run is not over yet; I think the peak of the cycle has been delayed due to macro conditions, with poor global liquidity, which is detrimental to Crypto Assets. Compared to the 12 times in the previous cycle, this is only the third or fourth time Bitcoin has exceeded a 25% pullback in this cycle. The market is overheated and needs to cool down; the market needs to find a new foundation, and right now we are waiting for the next new narrative.” The founder of Derive, Nick Forster, holds a similar view. He stated, “Bitcoin may be in a normal pullback phase, and the peak of the cycle has not yet arrived. Historically, Bitcoin experiences this type of pullback during its long-term upward trend, and there is no reason to believe this time will be different.” Forster added that Bitcoin’s fate in the next six months seems increasingly tied to traditional markets. Simpson from Collective Shift mentioned that the next narrative could revolve around U.S. interest rate cuts, easing of quantitative tightening, and an increase in global liquidity.