Bybit Report Suggests Bitcoin Rally Could Extend: Insights from BlockScholes

DUBAI,  UAE, Aug. 14, 2024 /PRNewswire/ -- Bybit, the world's second-largest crypto exchange by trading volume, in collaboration with BlockScholes, is pleased to announce the release of its latest Crypto Insights Report, titled "The Bitcoin Rally May Not Yet Be Over." This report provides details of Bitcoin's current bull cycle, offering fresh perspectives on whether the rally has reached its zenith or if more gains lie ahead.

Key Highlights:

The report delves into multiple dimensions of Bitcoin's market behavior, from historical price action to macroeconomic correlations, and offers a thorough checklist to gauge the potential longevity of the current bull cycle.

Historical Analysis Suggests Rally May Persist

The report highlights that Bitcoin's current bull market, spanning approximately 624 days, remains relatively modest compared to previous cycles. With a current trough-to-peak ratio of 3.5x, significantly lower than the 20x observed in prior cycles, the report suggests that the rally may continue for another 350 days before surpassing previous peaks. Historical patterns reveal that Bitcoin's price cycles often extend beyond initial expectations, providing a cautiously optimistic outlook.

"Bitcoin's price movements often defy simple patterns, and our analysis indicates that the current rally may still have room to run," said Nathan Thompson, lead tech writer at Bybit. "By leveraging historical data and macroeconomic insights, we aim to offer our clients a clearer view of the market dynamics shaping crypto's future."

Macro Factors and Institutional Influence

The report also examines the disconnect between traditional macroeconomic indicators and Bitcoin's price behavior. Historically correlated with loose monetary policy and a weaker U.S. dollar, Bitcoin has shown resilience despite the absence of these conditions. Moreover, institutional demand, mainly through Bitcoin Spot ETFs, has played a crucial role in driving price movements, with recent shifts in ETF flows closely mirroring Bitcoin's market dynamics.

Halving Cycle and Market Sentiment

Bitcoin's performance following halving events has traditionally been strong, suggesting that the current cycle might extend further. Additionally, despite recent downbeat market sentiment, historical data from derivatives markets indicate that such sentiment dips often precede further gains rather than signal an end to a bull run.

Download the Full Report

For a comprehensive analysis and in-depth findings, download the full report [here].

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving over 39 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One's reigning Constructors' and Drivers' champions: the Oracle Red Bull Racing team.

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** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Bybit Report Suggests Bitcoin Rally Could Extend: Insights from BlockScholes

Bybit Report Suggests Bitcoin Rally Could Extend: Insights from BlockScholes

Bybit Report Suggests Bitcoin Rally Could Extend: Insights from BlockScholes

JILIN, China, Dec. 22, 2024 /PRNewswire/ -- On December 19, the Second World Ice and Snow Economy of Cold Regions Conference opened at BEIDAU SKI RESORT in Jilin City.

Hu Yuting first extended welcome on behalf of the Jilin Provincial Party Committee and the provincial government to the guests attending the event and expressed gratitude to friends from all walks of life who care about and support the revitalization and development of Jilin. He said that the ice and snow economy is an important engine for economic development in cold regions. This conference, with the theme of PROSPER THE ICE AND SNOW ECONOMY, JOIN HANDS FOR A WIN-WIN FUTURE, builds a new international exchange platform, innovates new carriers for industrial cooperation, and expands new scenarios for ice and snow consumption, which is of great significance for stimulating the vitality of the ice and snow economy in cold regions. With a high-quality product matrix, we promote leapfrog development of ice and snow tourism. With the unique advantages of powder snow, forest sea, rime, and hot springs and the brand matrix of Snow all over Changbai Mountain, and with an attitude of opening the door to welcome guests and treating guests from all directions, we warmly welcome domestic and foreign tourists. People at home and abroad are welcome to experience Jilin's ice and snow. We will provide warm-hearted services to make tourists come happily and return satisfied.

We are willing to share development opportunities with friends from all over the world. Focusing on fields such as refining ice and snow tourism, developing ice and snow equipment, promoting ice and snow consumption, prospering ice and snow culture, and popularizing ice and snow sports, we promote all parties to deepen cooperation, complement each other's advantages, and achieve mutual benefit and win-win results, and jointly explore new opportunities for the development of the ice and snow industry.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

The opening ceremony of the 2nd World Ice and Snow Economy of Cold Regions Conference

The opening ceremony of the 2nd World Ice and Snow Economy of Cold Regions Conference