Onechain-Metrics Predict Bitcoin Bull Market

The bitcoin market is heading from the side of losses to the zone of possible profit. It is assumed that he may be in the early formation of a bull market.

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We have already published some opinion of analysts claiming that the bull market of bitcoin has come. Now this is confirmed by the analysts of Glassnode.

They conducted an onechain study and recently published the results. According to them, the market is returning to the bulls again. At the moment, there is an adjustment of bitcoins from the maximum values of this year – 30-31 thousand dollars per coin. Despite the fact that the price has now fallen to 27 thousand, the cryptocurrency shows a serious increase since the beginning of the year – about 66%.

Experts note that a slight decrease in the price shows the indecision of investors. Therefore, there will not be a full-fledged bull market yet and we need to wait a little. If we consider that there will be a halving of bitcoin in 2024, then the price will probably really take off, as it was in the past.

Recall that the previous halving was in May 2020. After him, bitcoin soared to $ 60 thousand per token. Note that from April 17 to April 21, the coin showed a drop. The cost dropped from 30 thousand dollars to 27 thousand dollars. However, at the time of writing, the rate is rising again. The mark of $28.3 thousand per token has already been reached.


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