"Hmm seriously, but roughly when will the second phase take place? In this month or next month?"
James Check, Chief on-chain Analyst at Glassnode revealed that the cryptocurrency bull market is about to move into its second and final phase which will be characterized by euphoria* and sudden price movements.
*Periods in bull cycles when market participants get greedy and BTC rises too fast
By observation, the crypto market is moving from enthusiastic bulls below all-time highs to generally euphoric bulls, Check further commented in his exclusive interview.
The Glassnode chief analyst also said that a strong bull phase already started in October 2023 then ended shortly after Bitcoin (BTC) reached an all-time high in early March 2024.
He further added that the next phase will occur when many people are getting excited plus there is higher volatility movement following the increase in coverage of BTC in the news will lead to increased demand.
So here it can be seen that crypto prices including BTC will rise until supply returns to the market.
While Check also stated that the current bull market is indeed one of the strongest in the history of BTC considering the smaller correction that occurred throughout the price saw an increase.
Pleased to note that the crypto market seems to be gaining support rapidly and this is obviously a very good sign.
