CryptoQuant analyst said the correction in the crypto market on March 5th was very healthy.
The analyst of the on-chain analysis platform CryptoQuant said that the correction in the crypto market yesterday was healthy for the continuation of the rise.
Pointing out that the amount of damaged supply increased with the correction, the analyst said that historically, such fluctuations are seen before breaking the peak points and reaching higher levels.
Expecting the indicator to fluctuate up and down for a while and Bitcoin to linger below the $69,000 peak point, the analyst then pointed to the strong rises and volatility to come:
With today’s correction and the increase in the percentage of loss due to the current drop after the closing, this is very good. Why? Historically, this indicator enters a phase of price swings, giving rise and fall for a while until it draws the market peak, until it forms the Bitcoin peak. In summary, according to this indicator, positivity continues in the coming days with strong fluctuations.
