CryptoQuant report: ‘Bitcoin is still in bull market’

A CryptoQuant analyst reckons that Bitcoin remains in the bull market despite the recent 50 percent correction.

Analyzing the MVRV cycle, CryptoQuant data shows that, since 2013, periods during which Bitcoin was declining (often dropping heavily) were the best times for buying the dip prior to a rise. Thus, the CryptoQuant analyst states that Bitcoin is still in a bull market.

Previously, the analytics agency stated that the bear market for Bitcoin has not arrived as per data based on the MVRV ratio.

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