The latest observation by Alex Krüger (@krugermacro) suggests that there are very few times when Bitcoin transaction volume has reached a record like now.
Just observing the volume on certain exchanges or spot volume alone will not be able to objectively assess the excitement of the market. Alex Krüger made a synthetic observation and made the following observations:
Thus, from this perspective, Bitcoin is likely entering a new bull cycle. The wait until this cycle kicks in after a volume spike can be as long as 4-5 months.
CoinSignal365’s observations provide yet another perspective on the current state of Bitcoin. The downtrend is still happening. But this is an early signal to see the uptrend coming back.
If Alex Krüger’s Bitcoin volume is viewed as a long-term prediction, CoinSignal 365’s observation is an early signal for the above long-term cycle.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold
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