In an update, in the world of cryptocurrency James Check, a leading on chain analyst at Glassnode has shared some insights indicating that the Bitcoin market is gearing up for a shift during this bull run. Check suggests that the market is about to enter its phase, marked by increased excitement and noticeable price swings.
In an interview Check described how the dynamics of the bull market are changing. He mentioned, “We are moving from the bull phase below the all time high towards an euphoric bull phase.” He also explained that price increases will likely continue until the supply in the market adjusts to meet the growing demand.
Analyzing market patterns Check noted that this ongoing bullish trend is one of Bitcoins strongest largely due to only minor corrections seen during this surge. He pointed out how resilient the market has been, by saying, “The market consistently finds support quickly which is definitely an indicator.”
Check outlined when each phase of the bull market began and ended. The enthusiastic bull phase started in October 2023. Concluded after Bitcoin reached its all time high in March.
In the future Check predicts that there will be a surge, in excitement and unpredictability driven by a rise in media attention on Bitcoin which could lead to interest from buyers.
This prediction is made during a period where the cryptocurrency market remains captivating for both investors and enthusiasts, with Bitcoin being the focus of this trend.
As we prepare for this expected shift stakeholders are staying alert keeping an eye on the changing landscape and how it may impact the cryptocurrency community.