June 23 (Cointime) - According to Ki Young Ju, a leading cryptocurrency analyst, Bitcoin has entered a bull market cycle after surpassing $30,000. Ju used the Bitcoin price-earnings ratio (PER), based on miner revenue, to determine an attractive price point for miners to sell and indicate a bullish phase.
The current bullish phase follows cyclic patterns within the cryptocurrency industry. However, the market scenario is complex with upcoming options expiries for 31,000 Bitcoin contracts and 180,000 Ethereum contracts nearing their expiry date.
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