Second phase of the crypto bull market is about to start, says lead on-chain analyst

The crypto bull market is about to transition into its second and final part, which will probably be characterised by euphoria and sharp value actions, based on James Examine, lead on-chain analyst at Glassnode.

“We’re transitioning from the enthusiastic bull, which is under the all-time excessive, typically talking, into the euphoric bull,” he mentioned in an unique interview with Cointelegraph.

In line with Examine, the enthusiastic bull part began in October 2023 and concluded after Bitcoin (BTC) reached an all-time excessive earlier in March.

Examine mentioned the following part will probably be marked by individuals getting “increasingly more excited,” which will probably be accompanied by larger volatility. “Elevated protection of Bitcoin within the information will result in “elevated demand,” he mentioned.

“The worth will rise till provide comes again available on the market to fulfill it,” he defined.

Examine notices that the present bull market has been among the many strongest in Bitcoin’s historical past, given the smaller corrections all through the rally. 

“The market simply appears to search out assist in a short time and that is clearly a superb signal,” he identified.

To seek out out extra about what on-chain evaluation can inform us in regards to the subsequent part of the Bitcoin’s bull market, verify ourt our full interview on our YouTube channel and don’t neglect to subscribe!