Bitcoin (BTC) is on a bull market after breaking out of its all-time high of $73,800, fuelling market euphoria. Historically, this “euphoric phase” will last for a few months before making a new top and reversing back down.
Ki Young Ju, founder and CEO of CryptoQuant, greeted Bitcoin’s euphoria and warned investors about the “euphoric phase” roadmap. In particular, the crypto executive and analyst highlighted that “euphoria” usually lasts three to 12 months, except for 2021’s cycle.
According to him, euphoria started two weeks ago, and 99.3% of all BTC addresses are in profit right now.
Should traders short BTC at “Bitcoin euphoria”?
Interestingly, however, Bitcoin already experienced euphoria during March’s breakout, with the three-to-twelve-month range potentially counting from there, similar to what happened in 2013-2014.
“Shorting [BTC] now,” Ki Young Ju said, “could be either catching the top—or shorting at the bottom of a parabolic bull
We współpracy z: https://finbold.com/bitcoin-euphoria-is-here-analyst-sets-roadmap-for-euphoric-phase/
