Summary
- A CryptoQuant analyst reported that 90% of the Bitcoin supply is in a profit state.
- Analyzed that if there is no black swan event, the decline of Bitcoin could be minimized.
- Stated that this rally will follow the 2017 bull market.
Axel Adler Jr., a CryptoQuant analyst, stated on the 6th (local time) via X (formerly Twitter) that "90% of the total Bitcoin (BTC) supply is in a profit state," and analyzed that "if a black swan (an event that is extremely unlikely to happen) does not occur in this cycle, the decline of Bitcoin could be minimized."
He added, "This rally will follow the 2017 bull market rather than the temporary halt in 2021 due to China's mining ban."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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