Summary
- CryptoQuant chief analyst Julio Moreno said the Bitcoin wave of increasing demand is heading toward the cycle's low.
- He reiterated that demand flow is more important than the halving or price performance.
- He said he did not disclose specific timing or demand indicator figures.
On the 17th (local time), CryptoQuant chief analyst Julio Moreno said on his X(formerly Twitter) that "the debate over Bitcoin's 4-year cycle continues," and that "the key is not the halving or price performance but the wave of increasing demand."
He mentioned that he had written about the same topic before last year's halving. At that time, he also presented the view that the standard for interpreting cycles should be placed on demand flows rather than events or price fluctuations.
Regarding the current phase, Moreno said, "I think we have already passed the cycle peak and are heading down toward the low." However, he did not provide specific timing or demand indicator figures.
BTC is trading at 86,477.28 dollars, down 1.06% from the previous day, based on the Binance Tether(USDT) market at 03:27 on the 18th.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
