Markus Thielen of 10X Research predicts that Bitcoin (BTC) will reach $73,000, despite the current downturn in cryptocurrency prices. He cautions that a speculative bubble has burst and new bullish markets typically take time to emerge. With the collapse of the DeFi/NFT bubble following the 2021 bull market and a similar decline in memecoins, Thielen warns that Bitcoin’s foundation is weakening. He advises investors to exercise caution rather than complacency and suggests that the next major upward movement of Bitcoin will require a new narrative. Thielen had accurately anticipated this downturn and urges investors to consider their positions carefully before deciding to buy the dip.

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