The crypto space since the beginning of the year 2022 is somewhat in a bear market. No doubt some assets made large moves, yet they remained heavily consolidated of-let. Moreover, many who believed in a bull run until the recent crash, have slowly moved out of the crypto space. And hence leaving the market to be pretty non-volatile for a pretty long time.
Currently, the stock market has plunged notably, inflation has peaked, and many countries are attempting to screw up the crypto space. And hence these factors have fueled heavily the crypto markets to remain consolidated and continue for some more time ahead. However, adding up to the bearish scenario, the retail traders have exited the markets as the institutional investors dominate.
After $800 billion just whipped out of the crypto space in the past month, the retail players just took an exit in large numbers in Q1 2022.
Further, the crypto fear and greed index dropped to the March 2020 levels which may fuel the current process. Therefore in such a case, when will the markets regain the bullish momentum? However Bitcoin bull run may still come to reality as the long term patterns suggest a major upswing incoming very soon.
The analyst here on the basis of a volatility indicator, Keltner Channel which is used to determine the upcoming trend, believes the BTC price may ignite a strong bull run very soon. As the price underwent a huge upswing each time it hit the lower line of the channel, a similar scenario is speculated at present. And hence a huge upswing towards the ATH may be in place for the next couple of months.
Was this writing helpful?
Source: https://coinpedia.org/bitcoin/this-is-when-the-bitcoin-bull-run-may-ignite-but-will-it-happen-in-2022/