Crypto para The CEO of the analysis company Cryptoquant, which Young Ju, in his last statement Bitcoin He claimed that the bull cycle ended in the market. In the assessment of On-Chain data, Ju said that current market dynamics now point to a bear market.
In his statement, Ju drew attention to the concept of “Realized Cap” (market value). This metric accepts the purchase of Bitcoin into a wallet and the release as a sales. This data, which allows the calculation of the average cost per wallet, allows you to measure the real capital entering the market when it is multiplied by the amount of BTC in wallets. For this reason, Realized Cap represents the total capital entering Bitcoin through chain activities.
On the other hand, the market value (Market CAP) is often misunderstood because it is based only on the last transaction price in the stock exchanges. JU stressed that even a small purchase may seriously upgrade prices during low sales pressure, but even under high sales pressure, even large purchases are insufficient to move the price. For example, Bitcoin showed that the price remained constant despite the high -volume transactions in the period when he was traded close to $ 100,000.
According to Ju’nun analysis, it is necessary to look at the relationship between Realized Cap and Market Cap to see if the market is in a healthy rise tendency. If the Realized CAP is increasing, the market Cap is fixed or decreased, this shows that despite the new capital inflow, prices cannot rise, that is, the bear market dominates. On the contrary, if the prices rise with small capital inflows, this is a sign of a bull market.
Stating that the data that is currently observed clearly pointed to the first situation, Ju said that large capital inflows could not pushed the prices up and this is a classic bear market indicator. CEO said that sales pressure may be reduced at some point, but historically, such market return lasted at least six months, so that a short -term rally expectation is not realistic.
*It is not an investment advice.
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Source: https://www.bitcoinsistemi.com/uzman-ceo-bitcoinde-boga-bitti-dedi-sebebini-ve-yeniden-baslamasi-icin-gereken-sureyi-acikladi/
