Bitcoin bull market process analysis: the current trend or imply the remaining 4-7 months of bull market cycle
CryptoChan2024/11/29 04:11
By:CryptoChan
According to CryptoChan's latest chart, the remaining period of the Bitcoin bull market may be between 4-7 months.
As shown in the figure, the BTC price (upper indicator) has shown an upward trend in the past few months, while the proportion of long-term holders' chips below has also shown a significant increase. The continuous increase in the proportion of long-term holders usually means that the market supply is tightening, which provides support for the rise in Bitcoin price. From historical data, the bull market cycles in 2017 and 2021 also showed similar trends.
After comprehensive analysis, this change in chip distribution may be the key to the bull market process, indicating that the Bitcoin price may continue to rise in the coming months until it reaches the end of the cycle.
2
2
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!
You may also like
Canaan unveils Avalon Mini 3 at CES 2025: a Bitcoin miner that doubles as a home heater
Canaan launched the Avalon Mini 3, a Bitcoin mining device that can also operate as a home heater.The manufacturer also introduced the Avalon Nano 3S “beginner-friendly” Bitcoin miner at CES 2025.
The Block•2025/01/08 11:11
Foresight Ventures: Redefining Xterio with AI – The Netflix Moment for Gaming
The Block•2025/01/08 10:00
Today's popular MEME inventory
币币皆然•2025/01/08 08:57
Trending news
MoreCrypto prices
More
Bitcoin
BTC
$94,901.99
-2.87%
Ethereum
ETH
$3,334.96
-3.83%
Tether USDt
USDT
$0.9998
+0.03%
XRP
XRP
$2.3
-0.61%
BNB
BNB
$691.29
-2.34%
Solana
SOL
$197.1
-5.07%
Dogecoin
DOGE
$0.3442
-5.50%
USDC
USDC
$1.0000
+0.01%
Cardano
ADA
$0.9693
-7.12%
TRON
TRX
$0.2518
-2.42%
Bitget pre-market
Buy or sell coins before they are listed, including CATGOLD, VERT, and more.
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new Bitgetters!
Sign up now