According to Odaily Planet Daily, CryptoQuant CEO Ki Young Ju said that the Bitcoin bull market is starting and the current data is similar to that in 2020. On-chain data shows that whales have continued to accumulate Bitcoin in the past few months.
Ki Young Ju analyzed that after the halving, the mining cost doubled, and the price needs to rise to maintain the profitability of miners. In addition, many traders are shorting Bitcoin, which may promote the bull market through short squeeze. According to the performance of the previous halving cycle, the Bitcoin bull market usually starts in the fourth quarter.
