Source: dailyhodl.com
Crypto analytics firm Santiment is breaking down what catalysts will launch the next digital asset bull market.
Santiment notes in a new analysis that when markets take off, social media discussions about crypto assets tend to be more focused on Bitcoin (BTC) than they currently are.
The analytics firm says 1/6th to 1/8th of crypto asset discussions have centered on Bitcoin in the second half of 2022, but that number is typically 1/5th in ideal market conditions.
Explains Santiment,
“As illustrated in the chart above, let’s look to see when trader interest in Bitcoin begins to hover consistently above this break-even line once again. This signal, along with a bit of distrust in exchanges dissipating as time goes by and (hopefully) justice is served against the former FTX founder(s), should be a recipe for a rebound as we head into a new year.”
Bitcoin is trading at $16,726 at time of writing. The top-ranked crypto asset is down more than 75% from its all-time high of more than $69,000, which it hit in November 2021.
Santiment notes that 2022 represented the “Accumulation Year” in Bitcoin’s four-year cycle.
“2014, 2018, and 2022 were all historically bad years during the now 14 years of BTC’s existence.
And it’s no coincidence that they all come after great, ultra-bullish years that established new all-time highs (2013, 2017, 2021). Though not a perfect alpha barometer for predicting whether prices will be going up or down, the pattern of every four years seeing a euphoric stage followed by a fearful, profit-taking phase has become fairly predictable.”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/jovan vitanovski/Plasteed
Read More at dailyhodl.com