Bitcoin's Bear Lasted Only 3 Days and Gave a Bullish Signal!
CryptoQuant CEO Ki Young Ju drew attention with his post on August 9.
CryptoQuant CEO Ki Young Ju made a remarkable post about the Bitcoin market. Ju stated that many of Bitcoin's on-chain cyclical indicators have started to point to a bull market again after being close to the borderline for a long time.
Young Ju also said that Bitcoin was dominated by bears for only three days.
The chart Ju added to his post reveals Bitcoin's bull-bear market cycle indicator. The chart shows Bitcoin's price fluctuations in the last few months and the different phases the market went through during this process.
The bull market, which has been seen especially since the end of February, showed signs of overheating in March, and entered a bear market by declining from May. However, the chart shows that it has recently given signs of recovery. According to CoinGecko data, Bitcoin is trading at $60,100 at the time of writing. Ju’s post has sparked great interest among cryptocurrency investors and increased expectations that the market has entered a bull cycle again.