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Bitcoin Forum / Re: Has the bear market started?
« on: May 01, 2024, 03:39:58 PM »Bitcoin price touched $65k to $56k in just two days. Bitcoin price is in full bearish current position, maybe we are going to reach bull run very soon. Do you think we are headed for a bitcoin bull market or a bear market?It is a healthy correction after many months of bullish, 7 months as you can see in the table [1]
[1] https://cryptorank.io/price/bitcoin
NUPL indicator shows that we are good to cool down as expected. I believe if Bitcoin stays around $50,000 to $60,000 for some months, it will be better for accumulation and will help Bitcoin to rise stronger next several months. [2]
[2] https://www.lookintobitcoin.com/charts/relative-unrealized-profit--loss/