Whereas cryptocurrency markets are nonetheless captured by recession and panic, seasoned cryptocurrency researcher and investor Qiao Wang says it is not over for crypto on this cycle. In the meantime, Bitcoin ETFs recorded their first day in inexperienced after probably the most horrible week in months.
“80% positive”: Qiao Wang shares his ideas on this bull run prospects
Veteran cryptocurrency analyst Qiao Wang of Alliance DAO, Messari co-founder and Good Recreation Podcast host, signifies an 80% risk that the continuing cryptocurrency bull run has not peaked but. He shared such a press release yesterday, Feb. 28, 2025, along with his 164,000 followers on X.
Largely, his followers agreed with this take. The present cryptocurrency cycle began with the underside of post-FTX crash recession in mid-November, 2022.
To this point, Bitcoin (BTC), the biggest cryptocurrency, reached its worth excessive at $109,114 Jan. 20, 2025. The Bitcoin (BTC) worth misplaced 22.51% since.
Usually, Bitcoin (BTC) cycles hit peaks in This fall of post-halving years. Earlier information have been set in December 2017 and November 2021.
The final Bitcoin (BTC) halving occasion occurred April 20, 2024, leading to a block reward of three.125 Bitcoin (BTC) per block.
Crypto sentiment hits lowest ranges since Terra collapse
In the meantime, pessimism is taking up the cryptocurrency section primarily based on quite a few metrics. Yesterday, following accelerating geopolitical tensions, Bitcoin (BTC) plunged beneath $80,000 for the primary time in three months.
Different Worry and Greed Index dropped to 10/100, which is the bottom “Excessive Worry” zone because the Terra crash in Could-June 2022.
The aggregated stablecoin provide, one of many essential metrics of crypto market sentiment, can also be again to 2024 ranges with all main issuers burning their tokens.
Bitcoin ETFs influx metric is the one inexperienced spot right this moment: After seven days in pink it turned barely optimistic because of exercise of Constancy and ARK merchandise.