标题：广泛遵循的Quant Analyst Planb表示，比特币（BTC）的最新更正现在提出了有关其公牛周期是否处于结局的问题。

Planb在一项新的战略会议上说，尽管链链数据表明比特币仍处于公牛周期中，但自1月以来，缺乏新的历史高潮，这表明熊市开始形成。

Quant analyst PlanB says the latest correction in Bitcoin (BTC) is now raising questions as to whether its bull cycle is on the verge of ending.

Quant Analyst Planb说，比特币（BTC）的最新校正正在提出问题，即其牛周期是否处于结束状态。

In a new strategy session, PlanB says that while on-chain data suggests Bitcoin remains in a bull cycle, a lack of new all-time highs since January may indicate a bear market is starting to form.

Planb在一项新的战略会议上说，尽管链链数据表明比特币仍处于公牛周期中，但自1月以来，缺乏新的历史高潮，这表明熊市开始形成。

“Some questions about the Bitcoin market cycle chart. It is still measuring ‘bull market’ (red) in on-chain data. But as I explain in today’s video, we are at a crossroads.”

“有关比特币市场周期图表的一些问题。它仍在测量链上数据中的“牛市”（红色）。但是，正如我在今天的视频中所解释的那样，我们正处于十字路口。”

The analyst says there remains the potential of a V-shaped recovery after Bitcoin’s correction that tapped about $78,000 last week.

这位分析师说，在比特币的校正上周挖掘了约78,000美元之后，V形恢复仍然存在。

“In bull markets, we can have multiple dips that are 20% or even 30% minus. However, it was still an unexpected dip. I expected more all-time highs after January’s all-time high and I expected February to be all-time high as well, above $102,000. So we’re really at the crossroads now.

“在牛市中，我们可以有多个跌幅为20％甚至30％。但是，这仍然是一个意想不到的下降。我预计在一月份的历史最高水平之后，我预计将有更多的高潮，我预计2月也将有史以来高高，超过102,000美元。因此，我们现在真的在十字路口。

Either we’ll have a red hot bull market, a continuation of the bull market, or we enter the distribution phase into a bear phase. So what will it be? I don’t know. That’s a big question. Was this the top and is this the start of the bear market, or will we see a V-shape recovery and more bull market action?”

要么我们要有一个红热的牛市，牛市的延续，要么我们进入分配阶段进入熊阶段。那将是什么？我不知道。这是一个大问题。这是最高的，这是熊市的开始，还是我们会看到V形恢复和更多的牛市行动？”

Based on historic precedence, the analyst says Bitcoin is likely to rally from current prices and print new all-time highs.

根据历史优先，分析师说，比特币可能会从当前价格中加油并打印出新的历史高潮。

“Yes, it has been at this crossroads each and every halving cycle. In all cycles the market has chosen bull/FOMO (fear of missing out) from here, but we have had only four cycles, not really enough to say something statistically sound. Fingers crossed for this fifth cycle.”

“是的，它一直处于每个减半周期的十字路口。在所有周期中，市场都从这里选择了公牛/FOMO（害怕错过），但是我们只有四个周期，还不足以说出统计学上的声音。手指在这个第五周期中交叉。”

Bitcoin is trading for $84,377 at time of writing, down 6.5% in the last 24 hours.

比特币在写作时的交易价格为84,377美元，在过去24小时内下跌6.5％。