Is the rise in Bitcoin (BTC) a bear rally? Or are they the first signals of the 2023 bull? was the number one agenda of investors.
While the harsh bear market in 2022 prevented many investors from throwing off their bearskin, many on-chain and technical indicators in Bitcoin indicate that the bear market is over.
In addition to these signs, the banking crisis in the USA and the expectations that the FED will slow down the rate of interest increase strengthen the bullish signal.
Again, when we look at the four-year cycles in Bitcoin, it is seen that it is possible to experience an intermediate period of rise before halving.
Popular analyst Plan B also compared the current situation with previous cycles of Bitcoin in his latest post.
Pointing out that there are four market stages in Bitcoin, Plan B stated that these stages are “early bear, late bear, early bull and late bull”.
Noting that Bitcoin is already in the early bull phase, the analyst said that this market chart is his favorite chart after S2F.
“Market stages in Bitcoin:
1st stage: early bear (blue color)
2nd stage: late bear (green color)
3rd stage: early bull <- here we are (yellow color)
4th stage: late bull (red color)
This is my favorite chart after S2F based on 1 on-chain variant. This is not a guess, just a guess. “
NEW chart: #Bitcoin market stages
🔵 stage 1: early bear
🟢 stage 2: late bear
🟡 stage 3: early bull <- we are here
🔴 stage 4: late bull
This is my favorite chart after S2F, based on 1 on-chain variable. Not prediction, but detection. If you like this stuff, I will update. pic.twitter.com/ddpKBbGU0S
— PlanB (@100trillionUSD) April 5, 2023
According to the chart shared by the analyst, it is seen that the early bull period (shown in yellow) continued for a while, not short in previous cycles.
Also, according to the chart, after the early bull period, BTC is entering the actual bull period, which is shown in red.
*Not investment advice.