This is the end of the current bull cycle for Bitcoin and the rest of the market
Analyst Jason Pizzino is Disclosure when the current bull cycle of Bitcoin and the rest of the crypto market comes to an end.
Pizzino said Bitcoin’s dominance and market sentiment are important factors in predicting when a bull phase will end. Bitcoin dominance tracks Bitcoin’s value relative to the market capitalization of all other crypto assets. According to him, based on historical data, money flows into Bitcoin during a bull market, thereby increasing Bitcoin’s share of the crypto market.
The crypto market may be in one of the final stages with Bitcoin gaining market share before altcoins bounce back for the last time in this cycle.
“If history repeats itself right now, it is possible that Bitcoin is in one of the final stages to regain some dominance before the money flows back to altcoins. And people experience the ultimate euphoria as their money grows.
So how can you tell when the bitcoin and crypto bull market will end? Well, here’s to consider when we get to that tipping point – the moment when the market slows down and then reverses in the other direction.
That’s when money goes into bitcoin and then comes back to altcoins in less time because people think, “Well, maybe it’s time for altcoins to get back into the party.” But it hit a higher low in this instance and then went back to Bitcoin. The altcoin party is over here.
And that will happen. So there have been two lows – a little double bottom here and money is flowing into bitcoin, but some old coins are still popping up at this time. It just doesn’t spread over the entire room. “
Source: Jason Pizzino
Pizzino says if positive news is barely driving prices, it is a sign that the market has turned bearish.
“This is what Bitcoin has been going through because a lot of bad news doesn’t really affect it that much. BTC continues to hit higher lows and the market continues to rise. On the other hand, the good news is still driving the market.
When it enters a bear market, the opposite will happen. The good news will sustain the market, but not too much, and the bad news will devastate the market even worse. “
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
According to Dailyhodl