In a post on X on Aug. 6, CryptoQuant head of research, Julio Moreno, reported that the on-chain analytics firm’s ‘Bull-Bear Market Cycle Indicator’ has flagged a bear phase for the first time since January 2023.
The move follows a massive market rout that resulted in around $500 billion being wiped out in less than a week.
However, there is no reason to panic just yet as this indicator has flashed bear warnings during previous bull market cycles that have continued on to all-time highs.
The Bull-Bear Market Cycle Indicator has flagged BEAR phase (high blue area) for the first time since January 2023.
Other periods when it has flagged BEAR phases for a limited period have been the COVID sell-off (March 2020) and the Chinese mining ban (May 2021). It then… pic.twitter.com/hwJRFjJuFg
— Julio Moreno (@jjcmoreno) August 6, 2024
Bull or Bear Market
Other periods when the indicator flagged bear phases for a limited period were the Covid-19 black swan event and sell-off in March 2
We współpracy z: https://cryptopotato.com/crypto-market-cycle-indicator-shows-bear-signs-but-heres-why-you-shouldnt-worry/
