Bitcoin (BTC) price accident Under the critical $ 80,000, concerns about the future appearance of the crypto currency focused. Ki Young JuCryptoquant’s founder and Chairman of the Executive Officer (CEO) came to the fore with a statement supported in the chain, arguing that the Bitcoin Bull market officially ended.
Bitcoin Taurus Market is officially over
In an x (formerly twitter) post On March 5, Ju explained everyone and Bitcoin Taurus Market is overAfter the crypto currency, only falling conditions await Falling below $ 80,000. He argues that existing market indicators, including market value and carried out capitalization, have pointed to the end of Bitcoin’s upward movement over the next six months.
Using these important metrics, he drew a sober picture for investors, hoping to be fast. price recovery Or a close -term bull rally following Bitcoin’s last accident. In a detailed casting, Cryptoquant CEO stressed the relationship between market value and used capital letters to determine whether Bitcoin was in a bull or bear market.
Ju explained this Capitalization It is the real amount of capital entering the Bitcoin market by activity on the chain. This metric works by monitoring when Bitcoin enters and leaves into a blockchain wallet. With this method, the average cost foundation estimate for each wallet can be determined.
On the Flip side, Bitcoin’s market value It is based on the last transaction price and does not necessarily reflect the real capital entry. JU assumes that many people, for example, an $ 10 Bitcoin purchasing the market limit of the same amount, usually misinterpreted this concept. In fact, the market value is affected by the balance between the purchase and sales pressure of the order book rather than individual transactions.
Typically, during the bull markets, small capital inflows tend to significantly higher prices, ie the market value increases, while the limit remains relatively flat. According to Ju’nun analysis, this tendency is no longer valid for Bitcoin. Even the big capital inputs Not being able to move the price of bitcoin Higher – a clear indication of the bear market.
BTC growth rate graphics support the market thesis
A graph of Cryptoquant supports Ju’s Decrease in Bitcoin. It shows the difference of growth rate between the market value of the crypto currency and the limit realized.
Currently, Bitcoin dived into red and confirmed the analysis that Crypto CEO’s capital was not able to respond positively, while the capital was flowing. Historically, such conditions require at least six months to fully reversed, which shows that Bitcoin probably goes to a long -term correction or consolidation, bear market.
The prominent picture from Adobe Stock, graphics from tradingView.com
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