The crypto analysts are trying to analyze the price of the most popular cryptocurrencies such as Bitcoin to determine the time when the bull market is expected to begin.
With the Christmas season coming up the crypto market and investors are waiting for an enchanted reversal in the market’s trend. The market for crypto in the world is still $841.83 billion, registering the same 1.41 percent decrease from the prior day.
With the market cap of crypto remains well below the $1 trillion mark , and the Bitcoin cost is still controlled by bears. Read a look at what of the most respected analysts have to say about the possibility of recovery.
From we See Moon of Bull Market?
When Lambo / Moon is a phrase that is used by people to indicate how much they can earn by selling their crypto assets. Today, as the market cap for crypto is trading 73% lower than its ATH Analysts are trying to identify indications of a possible change in direction.
A recent study by Crypto analyst BONchain (@ghoddusifar) pointed out that when the market is at its lowest and reaches delta cap the bull market will begin. Analysts predict that historically, the delta cap has served as the main market cap support for Bitcoin. The market cap for Bitcoin is not yet at its delta cap.
another CryptoQuant Analyst IT Tech, believes that BTC is nearing the end of its cycle, by looking at its un-spent Transaction Output (UTXOs). Notably, UTXOs that are more than six months old consume nearly 95% of actual capital. In the prior cycles’ selling-off in the month of September. 2015 and in April 2019 this indicator topped 70%, and then began declining.
The past was when Bitcoin’s value of Bitcoin began to fall for the various groups the Bitcoin price gradually returned. The youngest group has changed its mind. If other groups begin to change direction, it could be that a bottom in the price is coming up.
Predicting the next crypto bull run
Huobi the founder Du Jun in a recent interview in a recent interview, stated that next crypto bull run will be seen after the next halving. The next halving event is expected to happen in 2024.
The last time a halving event was held was in May 2020. Later, the year 2021 was when Bitcoin reached an all time record high of $68,000. In the same way, after an BTC Halving event was held in the year 2016, BTC prices surpassed a new record-setting high in the year following.
Pseudonymous analyst Smart Contracter claimed that he believes that the current Bitcoin price increase is a correctional rebound. However this year, this BTC price is expected to hit a new low, which is less than $15,000 by the first quarter of 2023, and then it could find a long-term bottom.
A recovery of all DEFI Total Value Locked that currently is close to a record low of two years is a sign of a rebound out of the downtrend. The total value of the lock currently Sat The current price is $41.74 billion, which is 77 percent down from its Nov. 2021 record high. If a bull market starts to kick in institutional flows, the DeFi sector would rise which would indicate the beginning of a bull market.