The Five Most Important Charts That Could Predict the Next Bull Market Cycle in Cryptocurrency

The cryptocurrency market is cyclical, as is the stock market. Once the prices start falling, after some long period of time it will come to a point where the prices start to increase once again, this is known as a bull market. Traders and investors are keeping a close eye on some charts in order to know when the next big move will occur.

With the help of these charts, it is possible to comprehend market trends, the behavior of investors, and potential turning points. Being a crypto follower in Nigeria, I have understood that such charts can help us make more reasonable choices and not simply rely on chance.

The initial chart worth mentioning is the Price Chart of Bitcoin (BTC/USD). Bitcoin is the monarch of all crypto-currencies. The movement of nearly every other coin is trailed. Once Bitcoin starts to swing and cross major resistance, it tends to be the beginning of a bull run in the entire crypto sector. The view of the long-term Bitcoin chart can make it possible to observe the patterns of past cycles and respond to the timely formation of the next positive movement.

The second important chart is the Bitcoin Dominance Chart. This chart indicates the percentage of the total value of the crypto market that is held by Bitcoin. A high rate of Bitcoin dominance implies that individuals have concentrated on Bitcoin and are shunning smaller currency.

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However, when the dominance begins to decline, it is usually an indication that money is flowing into altcoins, which is a sign that the confidence is rising and the bull market is expanding throughout the market.

The third chart is Total Market Capitalization Chart. This graph is the total value of all the cryptocurrencies. It assists in demonstrating the general trend of the crypto realm growing or dwindling. Once the overall market cap starts to grow consistently following a lengthy downtrend, this may be an excellent indicator that a new bull run has begun.

The fourth valuable chart is the Fear and Greed Index Chart. This graph is not merely concerning prices, but also about the emotions of people. In cases where fear is too high, then that is a sign that the market is close to the bottom. It is the beginning of a bull market as soon as greed begins to creep up gradually, a sign that confidence has returned.

The fifth chart is On-Chain Data Charts such as wallet activity and transaction volumes. As the number of users of the blockchain, money transferred, or the number of people who have coins in their wallet rather than at the exchanges increases, it is an indication that there is an increased trust in the market. This actual blockchain usage usually increases prior to the prices going on a skyrocket.

To sum up, these five charts such as Bitcoin Price, Bitcoin Dominance, Total Market Cap, Fear and Greed Index and On-Chain Data will help us to prepare the next crypto bull market. In my opinion, with proper observation, as a young investor in Nigeria, we are able to sell a still-to-come huge opportunity right before it catches up to us.