The exit of the first cryptocurrency to new highs this year sparked the formation of a quarterly engulfing candle, which has historically preceded strong growth.
CryptoQuant founder Ki Young Ju corroborates this view by citing optimistic signals from on-chain indicators, as well as the bull/bear market metric developed by his employees crossing the border line at zero from the bottom up.
Ju further cites the collapse of American credit institutions and the Swiss investment bank Credit Suisse as fundamental reasons for the positive dynamics of digital gold.
He jokingly suggested that if one still believes in the USD system, then Satoshi Nakamoto can print an infinite amount of Bitcoins to bail out the exchanges, and the price of the first cryptocurrency would fluctuate depending on the hawkish or dovish attitude of Satoshi.
