Digital asset analyst Jason Pizzino is assessing when the current bull cycle for Bitcoin and the rest of the cryptocurrency markets will end. Jason Pizzino tells 217,000 YouTube subscribers that Bitcoin dominance and market sentiment are important factors in predicting when a bull phase will end. we too cryptocoin.com We have compiled the analyst’s evaluations and predictions for you.
“Perhaps we are in one of these final stages of Bitcoin (BTC)”
Bitcoin dominance tracks the value of Bitcoin relative to the market value of all other crypto assets. According to the crypto analyst, historically, money flows into Bitcoin during a bull market, thereby increasing Bitcoin’s market share in the cryptocurrency market. Jason Pizzino also says that the crypto market may now be in one of the last stages of Bitcoin increasing its market share before altcoins rally for the last time in this cycle:
So if we’re repeating something like history right now, maybe we’re regaining some dominance in one of these last phases of Bitcoin, before money flows back into altcoins. And people experience a final burst of euphoria and adrenaline as their money rises.
“So what can we take from this to understand when the Bitcoin and cryptocurrency bull market will end?” Asks the analyst. Jason Pizzino continues his speech as follows:
This is when money flows back into Bitcoin and as you can see later people return to altcoins for a shorter period of time thinking, ‘Well, maybe it’s time for altcoins to play again’. But in this case it gets a higher floor and then returns to Bitcoin. So it looks like the altcoin party is over.
And we’re kind of getting that right now. So we can see that we have two bottom points. There is a small double bottom here and money is flowing into Bitcoin. However, some old coins are still exploding during this time. It just didn’t spread over the whole area.
How do we know when the market is down?
Analyst Jason Pizzino says the positive news barely pushing up prices is an indication that the market is in decline:
Right now, that’s what Bitcoin is going through, because a lot of bad news doesn’t really hit it too badly. We are still reaching lower lows and the market continues to rise and on the other hand the good news is still pushing the market up. If we enter a bear market, the opposite will happen. The good news is it will only keep the market afloat. It won’t actually pull it up much and the bad news will continue to drain the market even more.
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