Bitcoin In 2024 spot Bitcoin ETF It experienced a huge rise due to its confirmations and reached a new ATH before the halving in March.
BTC, which has been slowly declining since its ATH in March, experienced a sharp drop below $50,000 in early August. While this decline raised questions about whether the bear market is back in the market, the majority of analysts stated that these corrections are healthy and normal in bull cycles.
Bitcoin (BTC) Bull Rally Could Continue for Another Year!
Bitcoin continues to erase the traces of the recent decline, the latest report revealed that the Bitcoin bull rally could extend for another year.
The report, prepared jointly by Bybit and BlockScholes, He claims that the Bitcoin bull market could continue for another 350 days, potentially extending into the third quarter of 2025.
According to Bitcoin’s current trough-to-top ratio (which analyzes the price peaks and lows drawn by an asset or security), the Bitcoin bull rally could continue for another 350 days.
Stating that Bitcoin has a current bottom-to-top ratio of 3.5x, the report wrote that according to this ratio, the BTC price has more room to rise.
“The report highlights that Bitcoin’s current bull market, which has lasted approximately 624 days, remains relatively modest compared to previous cycles.
With the current trough-to-peak ratio of 3.5x, significantly lower than the 20x observed in previous cycles, the bull rally in Bitcoin could continue for another 350 days before surpassing previous highs (trough-to-peak highs).”
Bybit bash technology analyst Nathan Thompson He said the following about the report: Bitcoin’s price action often defies simple patterns, and our analysis suggests the current rally may still have room to continue. With this report, we aim to provide our clients with a clearer view of the market dynamics shaping the future of crypto by leveraging historical data and macroeconomic insights.”
Bitcoin Rally Driven by Institutional Investors!
According to historical chart patterns, Bitcoin is currently in the second phase of the cycle, Thompson said, BiHe said that institutional investors are driving tcoin’s 2024 rally.
“The changing intra-asset correlation structure between crypto and memecoins suggests that a different type of investor may be behind the recent rise in prices: institutions.
The bullish move coincides with the launch of BTC Spot ETFs in early January 2024, unlocking a new pool of demand for the crypto
“Driven by inflows from major institutional investors and spot Bitcoin ETFs, this rally could put Bitcoin on track to reach $100,000 if it recovers from the trendline before the end of 2024.”
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/bitcoin-btc-boga-rallisi-hangi-tarihe-kadar-devam-edecek-borsa-analistleri-acikladi/
