Thursday, September 16

Famous Analyst Says Bull Market Is Still Solid

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Crypto analyst Tyler Swope says that despite Bitcoin (BTC) dropping 50% from all-time highs, the Bitcoin bull market is still solid.

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The Chico Crypto server said it was following the work of emerging on-chain analysts who announced long-term bullish signals for Bitcoin to 244,000 YouTube subscribers.

“William Clemente III says the drop led to new highs in wallets. Whales are busy collecting Bitcoins right now. Lex Moskovski stated that ‘all stablecoins in foreign currency reserves are reaching an all-time high’. So basically people are not just using the USD to exit the market. They’re putting this in a stablecoin so they can use the opportunities again. I think these opportunities will improve very quickly. “

The analyst also points to the top post in the Bitcoin subreddit series highlighting four key signals of a bull market peak. According to Swope, we have not yet entered a bear market based on four main indicators.

“There are many technical analysis indicators that mean no. I say we weren’t even close to the top because in the past these have happened with every parabolic run. ”

Coming to the current phase of the bull market, Swope believes that Bitcoin is currently underlying the next leg.

“This means a time of accumulation where we are now. I mean you can get better prices, but I’m not trying to look at things like that. ”

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