Using the NVT
indicator it appears that Bitcoin
is taking off too soon. Primarily because the recent December bottom was higher than the March low of the indicator. As opposed to the previous bear market where both lows hit a 50 - 55 score. Currently there is a fine gap between that score and Bitcoin's present price.
Also the bullish
sequence since the end of January appears to be stronger than the same time period of the previous cycle.
Can this mean that the recovery phase will this time also be more aggressive? An indication that maybe the accumulation - distribution stage will this time be shorter? It certainly can but I don't expect a considerable rise before the next Halving.
My short term view:
My long term view: