Bull Market

<ul class="wp-block-list news-points">
 <li>CryptoQuant explained that bull market price crashes present good entry points.</li>
 <li>The taker selling pressure hit a high of -$30 million which is bullish for crypto.</li>
 <li>Bitcoin is already up 34% in November, printing the ATH at $99,655.50.</li>
</ul>
Blockchain analysis platform CryptoQuant stated in an X post that it’s still a good time to enter the crypto market and buy the dip, despite the significant price increases of the past few days.
Bitcoin (BTC) surged 34% in November, but data indicates investors haven’t yet seen the explosive price action and peak excitement of a crypto bull run. Altcoins also showed strong gains, and CryptoQuant believes there’s still room for growth.
CryptoQuant’s Bitcoin Bull-Bear Market Cycle Indicator shows the market <a href="https://x.com/cryptoquant_com/status/1861873739639791786" target="_blank" rel="noopener noreferrer nofollow">hasn’t reached</a> the “Extreme Bull phase.” The platform explained that traders can enter the market during drawdowns, which are common in bull markets. For instance, the 2017 bull run saw a 22% drawdown, while 2021 featured crashes of 10% and 30%.
<a href="https://coinedition.com/bitcoin-act-u-s-plans-1m-btc-reserve-to-slash-national-debt/" rel="noopener noreferrer nofollow">Read also: Bitcoin Act: U.S. Plans $1M BTC Reserve to Slash National Debt</a>
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Similarly, the 2024 market cycle experienced drawdowns of 15% and 20%. Since this is just the st…
The post <a href="https://coinedition.com/cryptoquant-bitcoins-bull-market-is-early-buying-dips-still-smart/" rel="noopener noreferrer nofollow">CryptoQuant: Bitcoin’s Bull Market Is Early, Buying Dips Still Smart</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

CryptoQuant: Bitcoin’s Bull Market Is Early, Buying Dips Still Smart

Coin Edition

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