The crypto community is discussing the transition of bitcoin into a bullish phase

The exit of the first cryptocurrency to new highs this year created the prerequisites for the formation of a quarterly absorption candle. Historically, this has preceded strong growth, user rektcapital stressed.

Historically, #BTC Quarterly Bullish Engulfing Candles have preceded strong upside$BTC #Crypto #Bitcoin pic.twitter.com/iZ13sKcaTg

— Rekt Capital (@rektcapital) March 19, 2023

This view is shared by the founder of CryptoQuant, Ki Yoon Joo, who cited optimistic signals from on-chain indicators. The bull/bear market metric developed by his employees has crossed the borderline at zero from the bottom up.

#Bitcoin entered into the bull phase. https://t.co/2VjgghXIB2 pic.twitter.com/8FmHyVILZH

— Ki Young Ju (@ki_young_ju) March 20, 2023

Earlier, the specialist also found fundamental grounds for the positive dynamics of digital gold in the form of the collapse of American credit institutions and the Swiss investment bank Credit Suisse.

If you still believe in the US dollar system, imagine the following:

1/ Crypto exchanges invest all client funds in shitcoins.

2/ Satoshi Nakamoto prints infinite Bitcoins to bail out the exchanges.

3/ #Bitcoin price fluctuates based on Satoshi’s hawkish or dovish expressions. pic.twitter.com/MvwCZPBSJf

— Ki Young Ju (@ki_young_ju) March 19, 2023

Then he ironically referred to the organization of a program to provide liquidity in US dollars between the world’s leading central banks.

Satoshi just decided to print more Bitcoins again to bail out crypto exchanges.

BTC price will go down as its supply increases. /s https://t.co/ucdqiJMHnV

— Ki Young Ju (@ki_young_ju) March 19, 2023

The latest events were also commented on by Binance CEO Changpeng Zhao.

No one can print #bitcoin out of thin air.

Mining is a feature.

— CZ 🔶 Binance (@cz_binance) March 17, 2023

Trader and analyst Michael van de Poppe allowed the quotes of the first cryptocurrency to fall to $25,000 if the asset does not hold above $27,000.

On March 17, Ryan Selkis, founder and CEO of the analytics company Messari, predicted the growth of the first cryptocurrency to $100,000 within 12 months.

Before him, Mike Novogratz, head of crypto trading bank Galaxy Digital, said that now is the best time to buy digital gold as a hedge against economic problems.