November with the collapse of FTX cryptocurrencies It’s been pretty hectic for him. The crypto industry had a quiet start to the last month of the year. While the rise that investors expected did not come, leading crypto analysts are making predictions on various data about when the bull will start in Bitcoin.
Twitter Phenomenon Highlights Delta Curve
bOnchain, one of the famous analysts of Twitter, mentioned that the leading cryptocurrency is trading 73% lower than its peak value. Analyst, bitcoin He thinks that the BTC Delta limit data, which he calculated in the light of on-chain data, is the bottom level.
The delta line served as an important support for Bitcoin in the 2015 and 2019 bear season, according to historical data. After BTC price touched the delta level, a new bull season started. Although Bitcoin has not yet touched the delta limit, the price is watching close to the said curve.
IT Tech: The End of the Bear Market Is Nearing
CryptoQuant on-chain Another analyst based on the data was IT Tech. The crypto analyst believes that the bear market for Bitcoin is about to end, based on the Unspent Transaction Output (UXTO) data.
IT Tech pointed out that the UXTO pattern touched the peak value in the past bear markets and started to decline gradually. A bull season has begun in the crypto market as the UXTO space pattern shrinks, according to historical data.
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