Greed

Bull Market

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-shows-signs-of-bull-market" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Shows Signs of Bull Market</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/hong-kong-sets-its-sights-on-leading-the-bitcoin-and-ethereum-etf-arena" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s Bull-Bear market cycle indicator recently signaled a bear market for the first time since January 2023, as the price dipped below $50,000. However, within a mere three days, the indicator shifted back to a <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">bull market</a> signal. This rapid change underscores how swiftly investor sentiment can evolve in the cryptocurrency market.</p>
<h2 id="bitcoin-indicator-turns-bullish-quickly">Bitcoin Indicator Turns Bullish Quickly</h2>
<p style="text-align: justify">CryptoQuant CEO Ki Young Ju noted in an August 9th post that many of Bitcoin’s on-chain indicators are now suggesting a return to a bull market. Ju emphasized that the initial price drop earlier in the week presented only a brief “discount opportunity” for investors.</p>
<p style="text-align: justify">August 5th saw Bitcoin fall to $48,800, an event dubbed “Crypto Black Monday.” This was the first instance of the price dropping below $50,000 since February. Yet by August 8th, Bitcoin had rebounded to exceed the $60,000 mark again.</p>
<h2 id="market-sentiment-and-reactions">Market Sentiment and Reactions</h2>
<p style="text-align: justify">The Bitcoin Bull-Bear Market Cycle Indicator initially showed a bear signal post-FTX collapse in January 2023, corroborated by the Crypto Fear and Greed Index hitting an “Extreme Fear” level of 17 on August 6th. The index swiftly recovered to a “Neutral” level of 48 soon after.</p>
<p style="text-align: justify">Some analysts believe the recent drop could be a bear trap, a tactic where seasoned investors sell Bitcoin in a controlled fashion to depress the price temporarily and trap short-sellers.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">– The rapid shift from bear to bull signals highlights Bitcoin’s volatile nature.<br> – Short-term price drops may offer lucrative buying opportunities.<br> – Bear traps can mislead less experienced investors, emphasizing caution.</p>
<p style="text-align: justify">Market experts remain divided on Bitcoin’s <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future trajectory</a>. While some view the recent decline as a precursor to a bull run, others adopt a more cautious outlook. Markus Thielen of 10x Research anticipates Bitcoin may drop to lower $40,000 levels before the next bull market. Meanwhile, Ark Invest and Peter Brandt see the recent price action as reminiscent of previous long-term bull cycles, with significant support levels identified at $52,000 and $46,000.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-shows-signs-of-bull-market" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Shows Signs of Bull Market</a></h5>

Bitcoin Shows Signs of Bull Market

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