Ki Youthful Ju, CEO of the blockchain Analytics platform Cryptoquant, said that the Bitcoin bull cycle is over. In particular, the most essential cryptocurrency fought to determine a lasting growth since they were reaching a up-to-date all -time in the amount of approximately USD 109,000 in January, causing doubts as to the profitability of the current course of the bull.
Bitcoin not responding price points at the beginning of the bear
IN X Post On April 5, Ki Youthful already shared an engaging theory, why Bitcoin could end his current bull. An outstanding cryptographic number based this postulating on data concepts in the chain around the realized and market capitalization.
Youthful already describes the realized limit as total capital that affects the BTC market, as the actual activity on the chain has been revealed. The completed CAP reveals a more exact measurement of the BTC network, summarizing the price at which each coin has recently moved.
On the other hand, market capitalization provides a valuation of the BTC network based on the latest stock exchange prices. Cryptochan CEO explains that market capitalization/prices do not grow or decrease in proportion to the size of the transaction based on joint misunderstandings, but in response to the balance between purchase pressure and sales.
Youthful already states that among low sales pressure, a petite purchase may escalate the price and market capitalization. On the other hand, immense Bitcoin purchases during high sales pressure may not affect a positive price reaction, because the market consists of a immense number of sellers.
Looking at both concepts, it is understood that the realized CAP is measured by the BTC market revenues, while market capital indicates the reaction of prices to these revenues. That is why the head of cryptochants explains that the growth of the carried out cap, while market capitalization is falling or unchanged, is a classic bear, because prices do not react positively despite up-to-date investments.
Alternatively, a stagnant who is accompanied by an increased market capitalization is stubbornly a signal reflecting the low level of sellers; Therefore, any petite amount of up-to-date capital can cause significant price benefits.
Ki Youthful already claims that the previous situation is currently taking place on the Bitcoin market, and prices have not increased, which is indicated by the data in the chain in exchange transactions, ETF markets and the activities of care portfolios. This development suggests the presence of a bear. While Youthful already states that the current sales pressure may disappear at any time, historical data support the reversal period of at least six months.
Bitcoin price review
During the Bitcoin press he traded at USD 83,700, reflecting the drop by 0.94% on the last day.
A distinguished picture from Thastreet, TRADINGVIEW chart
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