CryptoQuant Analyst Says Bitcoin May Be Preparing for Next Rally
JH Kim
Summary
- A CryptoQuant analyst said Bitcoin (BTC) may be preparing for its next rally.
- The analyst cited historical movements in Bitcoin held for more than 18 months as the basis for potential further price gains.
- Still, the analysis is based on historical on-chain data, and neither whether an actual price increase will occur nor its timing has been determined.
Forecast Trend Report by Period
A CryptoQuant analyst said Bitcoin may be preparing for its next rally.
Cointelegraph reported on October 27 that the analyst based that view on historical movements in Bitcoin held for more than 18 months, raising the possibility of further price gains.
The analyst said historical patterns in long-held Bitcoin could serve as a useful indicator in assessing the cryptocurrency's next bullish phase.
Still, the analysis is based on historical on-chain data, and neither whether prices will actually rise nor the timing of any such move has been determined.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.