Correction of the first cryptocurrency by 30% within the “bull” cycle is a normal phenomenon. This was stated by the CEO of the analytical platform Cryptoquant Ki Young Ju.
According to him, those who are now panic are probably newcomers. CEO Cryptoquant added that in 2021 Bitcoin fell by 53% and still recovered to the historical maximum.
Earlier, he stated that the “bull” cycle will remain until significant outflow of capital from exchange funds based on cryptocurrencies begins. In his opinion, a long predominance of negative pure demand will become a signal for the beginning of the bear market.
At the time of writing, the first cryptocurrency is traded near the mark of $ 86,000.
In addition, recently, Cryptoquant analysts made a negative forecast for crypto, indicating the possible beginning of the bear phase.
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Source: Cryptocurrency
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