CryptoQuant CEO: On-chain indicators indicate that the Bitcoin bull cycle has ended

This article is machine translated
Show original
CryptoQuant CEO Ki Young Ju believes that on-chain indicators suggest the Bitcoin bull market cycle has ended, and the price is expected to show a bearish or sideways trend for 6-12 months; as new liquidity dries up, new whales are selling Bit at lower prices. His alert applies PCA to on-chain indicators such as MVRV, SOPR, and NUPL to calculate the 365-day moving average, used to identify the turning point where the 1-year moving average trend changes. However, some users have pointed out that his sell signal in 2020 was incorrect.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments