The lead on-chain analyst, James Check at Glassnode, has predicted that the crypto bull market is on the verge of entering its second and final phase. This phase will be characterized by euphoric sentiments and significant price movements. Check mentioned in an interview with Cointelegraph that from the previous enthusiastic bull phase, which occurred before Bitcoin reached its all-time high in March, we are now transitioning into a more excited and optimistic phase. As interest in Bitcoin grows, volatility is expected to increase due to heightened demand in the market. Check believes that the price will continue to rise until there is enough supply to meet the demand. This current bull market, which has shown minimal corrections so far, is one of the strongest in Bitcoin's history. The market has been quick to provide support during downturns, indicating a positive trend. For further insights on what on-chain analysis reveals about the upcoming phase of the Bitcoin bull market, refer to the full interview video on our YouTube channel.
Second Phase of the Crypto Bull Market on the Horizon
by Giorgi Kostiuk
2 years ago
Other news
Bitcoin Threatens to Break Previous Monthly Cycle High
Bitcoin is nearing a critical point where it may break the previous monthly cycle high of 61,359, a first in its history.
Taylor Lindman Appointed as Chief Counsel of SEC Crypto Task Force
Taylor Lindman has been appointed as the new Chief Counsel of the SEC's Crypto Task Force, focusing on compliance and legal guidance for digital assets.
Potential Changes in Bitcoin Derivatives Markets Following CLARITY Act
Market expert MartyParty highlights that the CLARITY Act could lead to significant changes in Bitcoin derivatives markets, enhancing CFTC authority and encouraging institutional participation.
Crypto Investment Funds Face Continued Outflows Amid Market Slowdown
Crypto investment funds have faced a fifth consecutive week of net outflows, totaling approximately $4 billion over five weeks, with a significant decline in trading activity.
Blockchain Association Unveils New Tax Principles for Digital Assets
The Blockchain Association has introduced a framework to guide lawmakers on digital asset taxation as discussions around the CLARITY Act continue.
Market Leverage Ratio Declines, Indicating Reduced Speculative Positioning
The Estimated Leverage Ratio in the crypto derivatives market has sharply declined, suggesting a reduction in speculative positioning and a calmer market environment.
Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter