Crypto Expert Declares: Bitcoin Bull Market is Back

According to Ju, an expert from CryptoQuant, Bitcoin’s bull market has resumed. His Bitcoin bull-bear market cycle indicator, which tracks investor sentiment, recently shifted back to bullish after a short period of bearishness.

Ju reports that most on-chain cyclical indicators, which had been near the border between bull and bear market conditions, have now returned to bullish signals. Bitcoin experienced a brief discount lasting just three days.

Future Outlook

Ju maintains that the bull market is intact based on the current data. However, he notes that a lack of recovery within the next two weeks could prompt a reassessment of his position. He suggests that if the market does not rebound as expected, it may indicate that new investors, or 'whales', have misjudged the market or the broader economic environment.

Accumulation Trends

Recently, Ju highlighted that 404,448 Bitcoin had been moved to permanent holder addresses over the past month. This movement suggests significant accumulation by investors.

Long-term Predictions

Ju anticipates that within the next year, various entities such as financial institutions, companies, or governments will publicly announce their Bitcoin acquisitions from Q3 2024. He believes that retail investors who delay buying may regret their decision, especially considering past events like the German government's actions, the Mt. Gox incident, or other macroeconomic factors.