Well, 2019 so far has been a very good year for bitcoin , While the altcoins have not seen any significant growth in this year.We have bounced back from $3100 to $10000. This has brought us out of the bear market.
But when is the Bull market going to start ??
This is the question everyone in the crypto space are having right now!
We have got the answer to it.
We are not very far away from the Bull market that has parabolic price rallies. I have two sources to back this statement.
1. The 30-40% Correction
Historically, after every parabolic price rally we have had a 30 - 4- % correction before the price rises up again. In this case we have already had the correction from $13800 to $9100 leaving us with an 33% pullback.
So we are all ready to see another price rise.
2. The Miner's Sell Pressure
On-chain crypto analyst WILLY WOO has recently created a indicator chart called the Bitcoin difficulty Ribbon which portrays the miner's difficulty.
As stated by him,
" As a final note, notice how the 2019 the 2012 bull market have the same structure, we saw severe mining capitulation (ribbon flipped negative) leading to a shorter accumulation band before price breakout. This bull market has resembles 2012 more than 2016 structurally."
In this chart every time there is a Compression in the ribbon there is sell pressure after a compression the band there is an expansion which leads to price rise . We have already passed the compression phase and we are about to expand leading to a price rise.
So we can expect the bitcoin rally soon!!
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