The cryptocurrency market is experiencing a significant correction, with Bitcoin (BTC) leading the decline. Despite this, analysts remain optimistic about the long-term potential of the premier asset. EGRAG, a prominent analyst, has predicted that Bitcoin will reach $173,000 in the next cycle, mirroring the 2017 bull trend.

According to EGRAG, Bitcoin's current consolidation phase is similar to the one in 2017, which lasted for four months before a dramatic surge in the fifth month. He believes that the asset will experience a similar breakthrough in July, propelling it to $173,000. This prediction is based on historical data and cycle analysis.

Rekt Capital, another analyst, has also echoed EGRAG's sentiment, predicting a breakout in September. However, on-chain analyst Ali Martinez has urged caution, highlighting historical data showing that Bitcoin typically experiences bearish performances in the third quarter of the year.

Despite these predictions, the market remains volatile, and investors are advised to exercise caution. The Crypto Basic is not responsible for any financial losses resulting from investment decisions based on this article. Cryptocurrency investments carry inherent risks, and thorough research is essential before making any investment decisions.

In conclusion, the future of Bitcoin remains uncertain, but analysts predict a significant surge in the next cycle. Investors must remain cautious and informed to navigate the volatile cryptocurrency market.