The Bitcoin Bull Cycle: A Still-Continuing Saga Despite Recent Price Fluctuations
Bitcoin’s bull cycle, or ‘Bitcoin bull cycle,’ continues to hold strong despite a recent 13% decline from its record-breaking high of $73,835 to approximately $60,000. This sudden change, often referred to as a ‘pre-halving retrace’ by market analysts, precedes the eagerly awaited Bitcoin halving event due in about a month. However, it’s essential to note that the ‘Bitcoin bull cycle’ is far from its conclusion. A fresh study conducted by CryptoQuant, a top-tier firm specializing in on-chain data analytics, suggests that Bitcoin’s bull cycle is not disrupted despite the prevailing market instability. CryptoQuant’s ‘Weekly Crypto Report’ uncovers a fairly low investment level from newcomers alongside price valuation metrics that are yet to reach the heights observed during past market zeniths. A noteworthy observation is that short-term investors contribute to 48% of Bitcoin investment, a stark contrast to the usual conclusion of a Bitcoin bull cycle, which sees an overwhelming 84%–92% investment surge from new entrants. This contrast implies that the Bitcoin bull cycle still has significant space to persist in its ascent.
Not financial advice. Always be safe and secure when dealing with cryptocurrency. Never send anyone your private key. Always Do Your Own Research..DYOR..DYOR..DYOR!
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