EGRAG Crypto has forecasted that Bitcoin is entering phase 2 of a significant uptrend, likening the current market conditions to those of 2019. The market analyst argues that the present price movements suggest a continuation pattern rather than a peak similar to the 2021 bull cycle. EGRAG points out the liquidity changes since the Federal Reserve ended quantitative tightening in December 2024, injecting $13.5 billion into the banking sector. Technical analysis from EGRAG indicates Bitcoin is moving outside a multi-year ascending channel, forming a higher-low pattern. Based on these observations, EGRAG projects a potential Bitcoin price target of $173,000, with a best-case scenario reaching up to $365,000 in the coming years.