The Wall Street cheat sheet has been around for years and is often circulated in financial circles, so Bitcoin has not been left out. The cheat sheet shows the different stages of each market cycle, using sentiment to track where an asset is in the cycle. A crypto analyst thinks the Bitcoin market is stuck in limbo applied information from the Wall Street Cheat Sheet to show where we are in the bull cycle.

The Bitcoin cycle turns to faith

The different stages of the Wall Street cheat sheet reflect different market sentiments and can lend a hand predict where the Bitcoin price is heading. According to cryptocurrency analyst Mags, who has over 89,000 followers on X (formerly Twitter), the Bitcoin market has now entered a “Belief” phase.

Faith is the stage that follows optimism, which a cryptocurrency analyst places around time Bitcoin price reached an all-time high of $73,000 earlier this year. The decline was expected to lead to the next stage, which is now Faith.

For Bitcoin’s price, this means that the bull rally may continue. This is because faith comes with greater confidence in the market, and as investors make more bets, the price of BTC will enhance as a result.

Basically, the cryptocurrency analyst’s post suggests that the Bitcoin bull market is not over yet. If Wall Street’s cheat sheet is anything to go by, it means that the BTC bull market may only be in its early stages and has a long way to go once Belief raises the price to $90,000.

The price of BTC can reach $300,000

Using Wall Street’s cheat sheet shows that faith is far from the peak of the Bitcoin bull cycle. If anything, this is confirmation of the ongoing bull market. The next stage is the “Shiver” where investors make a lot of money on their trades. At this point, more money is flowing into the market to keep the growth going.

The final stage of each Bitcoin bull cycle according to Wall Street Cheat Sheet this is the “Euphoria” stage. This is the point where investors completely agree with Bitcoin bull market and this is the time of peak bullish sentiment. At this stage, the analyst’s chart suggests that the BTC price could reach as high as $300,000.

However, this stage often marks the peak of the market and the euphoria often prevents investors from realizing that the streak is over. Once this stage is complete, the price of Bitcoin can change very quickly and lose more than 50% of its value, as has happened in the past.

Featured image created with Dall.E, chart from Tradingview.com