HODL

Waves

Bitcoin ETF

Bitcoin

Bull Market

<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/anticipated-surge-in-bitcoin-btc-value-prominent-analysts-forecast/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a></strong> price has seen a significant difference between November 2022 and now. It has been a challenging period, but it seems to be ending. The psychological pressure and depression of bear markets are giving way to the fear of missing out (FOMO) in the bull season. Sleepless nights were inevitable during both periods’ toughest days. Now, we may be approaching the days when investors’ sleep will be filled with joy.</p>
<h2 style="text-align: justify" id="has-the-bitcoin-bull-begun">Has the Bitcoin Bull Begun?</h2>
<p style="text-align: justify">The price of the king of<strong> cryptocurrency</strong> experienced an increase of nearly 30% last month, which was a remarkable gain worthy of October’s historical performance. The only question on investors’ minds is whether this is just a temporary rise. We might be at the beginning of a new bull season or in the midst of the last rise before a downfall.</p>
<p style="text-align: justify">However, some data suggests that the first option is more reasonable, indicating the start of a bull season. We can understand the current period by looking at the HODL Waves chart. For the past 90 days, almost 90% of <a href="https://en.coin-turk.com/bitcoin-price-rises-amid-government-shutdown-concerns-in-the-us/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> supply has remained inactive. Additionally, many late investors from the previous cycle have transitioned into long-term investors. All of this indicates that the bull market has begun and that a significant portion of investors are avoiding selling.</p>
<h2 style="text-align: justify" id="cryptocurrency-bull-market-begins">Cryptocurrency Bull Market Begins</h2>
<p style="text-align: justify">The HODL Waves chart is based on how long BTC remains inactive in wallet addresses. For example, if you sent 1 BTC to wallet X and it stayed there for 1 year, and then you sent 5 BTC to wallet Y, which remained there for more than 3 months, the hodl type is determined based on specific time intervals.</p>
<p style="text-align: justify">Currently, 89.1% of the <strong>BTC</strong> supply is inactive. In comparison, this percentage was 83.5% just before the December 2018 cycle bottom. Interestingly, this is happening despite the clear recovery in the cryptocurrency market. Normally, this percentage should have dropped much lower due to profit-taking.</p>
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-273550 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/Bitcoin-Boga-Sezonu-Basliyor.png" alt="" width="1600" height="900"></p>
<p style="text-align: justify">Therefore, investors are maintaining their belief in the <strong>spot Bitcoin ETF</strong> that will be approved no later than 2024. The ATH (all-time high) of more than 3 months in the HODL Waves chart caught the attention of renowned on-chain <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">analyst</a> DylanLeClair_, who said:</p>
<blockquote>
 <p style="text-align: justify">“To really push this thing to new highs, it will require Wall Street to get rid of hodlers’ coins.”</p>
</blockquote>
<div class="sorumluluk_reddi" style="text-align: justify"><strong>Disclaimer:</strong> The information in this article does not constitute investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and should conduct their own research before making any transactions.
</div> Continue Reading: <a href="https://en.coin-turk.com/bitcoin-bull-market-is-the-bull-back/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/bitcoin-bull-market-is-the-bull-back/</a>

Bitcoin Bull Market: Is the Bull Back?

Table of Contents

COINTURK NEWS

Other articles published on Nov 5, 2023

Top Altcoins To Watch Next Week: Binance Coin (BNB), Solana (SOL) And Arbitrum (ARB) Prices Hit R...

Aave Freezes Assets on Numerous Chains: Are Funds Safe?

Cryptocurrency Bandit Pilfers $4.4 Million in 24 Hours as Fallout from LastPass Breach Escalates

Binance Coin (BNB) Outshines Top Cryptos with a 4.34% Surge in 24 Hours!

Tired Whale Just Sold All of This Altcoin at a Loss

Weekly Round-Up #74 | Web3 Interoperability: Bridging the Gap Between Blockchains 🧩🌐

Join our free newsletter for daily crypto updates!