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Not a Bull Market, Just an ‘Appetizer,’ Says Crypto Analysts

1 min
Updated by Kyle Baird
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In Brief

  • crypto influencers Miles Deutcher and Lady of Crypto cautioned their substantial followings that the current crypto landscape does not signify a bull market.
  • Emphasizing that there is still considerable room for additional developments, their reminders aimed to temper enthusiasm and foster a realistic perspective.
  • The fear greed index, currently at 70 out of 100, indicates a heightened greed phase among market participants, adding an intriguing layer to the evolving crypto narrative.
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While enthusiasm brews within the crypto community regarding recent crypto market price shifts, crypto analysts assert that these movements merely serve as a teaser for a potential bull market. 

Describing the current situation as an ‘appetizer,’ analysts suggest it offers a taste of what lies ahead.

Crypto Analysts Predict the Arrival of the Bull Market

On X (formerly Twitter), both Miles Deutscher and Lady of Crypto took to their respective accounts to remind their large followings that the current crypto sentiment isn’t indicative of a bull market. 

They emphasized that there is still ample room for other developments to unfold. Miles Deutscher indicated to his 371,100 followers that the best is yet to come for crypto investors:

“You think this is a move? This is what a real move looks like. What we’re experiencing now is just the appetizer.”

Meanwhile, in similar words, Lady of Crypto told her 426,900 followers that,

This is not the bull market, this is an appetizer.”

At the time of publication, Bitcoin’s price stands at $36,096.

Bitcoin Price Chart 1 Month. Source: BeInCrypto
Bitcoin Price Chart 1 Month. Source: BeInCrypto

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Recent Speculation Sparks Bull Market Anticipation

Recent developments and speculations strongly suggest the likelihood of an imminent bull market. 

Notably, the ongoing discussions within the crypto community regarding the potential approval of a Bitcoin spot ETF have captured significant attention. 

If granted approval, these ETFs could pave the way for institutional funds to enter the Bitcoin market. This could potentially result in favorable price dynamics.

Furthermore, the fear and greed index, a metric gauging market sentiment, currently stands higher than usual. As of the latest update, the index registers at 70 out of 100.

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In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.

Ciaran Lyons
Ciaran is a cryptocurrency journalist based in Sydney, Australia. He particularly enjoys writing about CBDC developments and the practical implementations of cryptocurrency in real-world scenarios.