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Bitcoin: Q4 may turn out to be the best one yet this year
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As 2021 comes closer to the end, for the crypto markets it seems like this could be one of the best quarters, especially for Bitcoin. Analysts believe that Q4 will determine the early months of the following year. So, if this quarter closes on a good note, 2022 might turn out to be bullish as well.
It’s almost been a month and a half since Q4 began. A macro view of the status of the price action and on-chain behavior, suggests a bullish picture. In fact, since 1 October the price has jumped by $23.7k, which has led to new ATHs.
This is why the overall market is maintaining a state of profit. Further, as long as SOPR remains well above 1.02, there’s no reason to be bearish at all.
Bitcoin aSOPR | Source: Glassnode – AMBCrypto
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