HomeBitcoinCryptoQuant Analyst: "Bitcoin's Bull is Over, Stronger Correction is Coming!" Here is...

CryptoQuant Analyst: “Bitcoin’s Bull is Over, Stronger Correction is Coming!” Here is the Date He Given!

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Bitcoin’s value dropped significantly from last week to this week, and the decline is getting worse.

Right now, the price of BTC has dropped to $63,000. It keeps changing a lot and making investors worried.

Investors are worried about Bitcoin going down in value, and one analyst thinks that the good times for Bitcoin might be finished.

The person who studied Bitcoin said that the Net Unrealized Profit and Loss metric has gone up a lot.

The expert said that this number, along with the rise in BTC price, clearly shows that it is a good time to sell and make money, like most smart investors do when markets are get too hot.

Also, the person who studies and evaluates Bitcoin said that it has been in a zone where people are buying too much for 3 weeks. They also said that based on what happened before, the price might go down even more.

The analyst said that a correction will start before the end of March. He also said that the NUPL metric needs to go down and be below 0. 3 before it’s a good time to buy BTC again.

“The Net Unrealized Profit and Loss metric (NUPL) is showing a sharp increase, which means it’s a good time to sell and make a profit, like smart investors do when the market is too hot. ”

The chart shows that NUPL doesn’t stay above 0. 6 for very long before the price goes down.

Right now, you have been in the “overbought” zone for almost 3 weeks. Looking at historical data, it is likely that the price will go down a lot.

These big changes took 3 to 6 weeks to happen. But because we are not yet in the main bull phase and are still in the halving phase, a big drop in prices will start before the end of March, maybe even this week. The NUPL indicator helps us understand this.

A bigger drop in the price of Bitcoin should cause a decrease in NUPL. If the NUPL metric goes below 0. 3, you can start buying Bitcoin again. Can you please rewrite the text so it is easier to understand.

Bitcoin is still selling for $63,706 right now.

This is not advice on how to invest your money.

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