Experts note Bitcoin’s transition into a bull market

The first cryptocurrency’s move to new highs this year has created the conditions for a quarterly bullish engulfing candle. Historically, this has preceded a strong rally, the user rektcapital noted.

Historically, #BTC Quarterly Bullish Engulfing Candles have preceded strong upside$BTC #Crypto #Bitcoin pic.twitter.com/iZ13sKcaTg

— Rekt Capital (@rektcapital) March 19, 2023

This view is shared by CryptoQuant founder Ki Young Ju, who pointed to upbeat signals from on‑chain indicators. The metric developed by his team for bull/bear markets crossed the zero line from below.

#Bitcoin entered into the bull phase. https://t.co/2VjgghXIB2 pic.twitter.com/8FmHyVILZH

— Ki Young Ju (@ki_young_ju) March 20, 2023

Earlier he also found fundamental grounds for the positive dynamics of digital gold in the form collapse of American banking institutions and the Swiss investment bank Credit Suisse.

If you still believe in the US dollar system, imagine the following:

1/ Crypto exchanges invest all client funds in shitcoins.

2/ Satoshi Nakamoto prints infinite Bitcoins to bail out the exchanges.

3/ #Bitcoin price fluctuates based on Satoshi’s hawkish or dovish expressions. pic.twitter.com/MvwCZPBSJf

— Ki Young Ju (@ki_young_ju) March 19, 2023

If you still believe in the US dollar system, imagine the following: 1/ Crypto exchanges invest all client funds in shitcoins. 2/ Satoshi Nakamoto prints infinite Bitcoins to bail out the exchanges. 3/ The price of Bitcoin fluctuates depending on Satoshi’s hawkish or dovish stance, — he noted.

Following that, he also sarcastically referred to the organization of the dollar-liquidity program among leading world central banks.

Satoshi just decided to print more Bitcoins again to bail out crypto exchanges.

BTC price will go down as its supply increases. /s https://t.co/ucdqiJMHnV

— Ki Young Ju (@ki_young_ju) March 19, 2023

Satoshi simply decided to print more Bitcoins again to bail out the crypto exchanges. The price of Bitcoin will fall as its supply increases, — the expert noted.

The latest developments were also commented on by Binance CEO Changpeng Zhao.

No one can print #bitcoin out of thin air.

Mining is a feature.

— CZ ? Binance (@cz_binance) March 17, 2023

Bitcoin is volatile, but it has never needed rescue, as banks do. It has no CEO. No one can print coins out of thin air, — the exchange head emphasised.

In April, a trader and analyst Michaël van de Poppe cautioned that Bitcoin could fall to $25,000 if the asset does not hold above $27,000.

On March 17, Messari founder and CEO Ryan Selkis predicted the first cryptocurrency would rise to $100,000 within 12 months.

Before him, Galaxy Digital founder and CEO Mike Novogratz stated that now is the best time to buy digital gold as a hedge against economic headwinds.