Leading cryptocurrency Bitcoin reached a new ATH, surpassing its previous ATH of $69,000 before the halving in April.
While the new ATH before Halvig increased investors’ bullish expectations, BTC experienced serious corrections afterwards.
While these corrections caused speculation that the bear market had started again, CryptoQuant CEO Ki Young Ju made a post that would please investors.
Stating that Bitcoin is in the bull market, CryptoQuant CEO said that BTC is currently in the middle of the bull market cycle.
Stating that the current market value is growing faster than the realized market value, Ju argued that the bull may end in April 2025:
“Bitcoin is in the middle of its bull cycle.
Market value grows faster than realized value, and this trend usually lasts for about two years.
“If this pattern continues, the bull cycle could end in April 2025.”
Bitcoin continues to trade at $66,390 at the time of writing.
#Bitcoin is in the middle of the bull cycle.
Its market cap is growing faster than its realized cap, a trend that typically lasts around two years.
If this pattern continues, the bull cycle might end by April 2025. pic.twitter.com/o4k8B1Rkhv
— Ki Young Ju (@ki_young_ju) May 17, 2024
*This is not investment advice.