The price of Bitcoin traded today in the range of 37171 dollars and has increased by 4.82% compared to the previous trading day.
Bitcoin has ended the accumulation phase - heavy buying by investors for long-term holding - and entered the first part of the bull cycle.
Salehi, the CEO of Lidoma analyzer software company, states that the markets have several trend cycles, which is very common for the digital currency space. These cycles usually last four years and are classified into several categories.
Bear market: marked in red
Stacking: Green color
Phase 1 of the bull market: colored purple
Phase 2 of the bull market: coloring in green, also called the manic period.
