"Grayscale: “BTC, Unlike Past Cycles, Bull Run May Continue Until 2025 or Later”

Grayscale, a well-known cryptocurrency asset manager and issuer of Bitcoin ETFs, published a recent report that states, “Historically, Bitcoin has experienced repeated ups and downs in 4-year cycles. However, the current situation, such as spot ETFs being introduced and cryptocurrency-friendly individuals being elected to Congress, indicate that the present cycle may deviate from the past.” In fact, when various indicators are considered, the report predicts that the present bull market may extend till 2025 or even later. The report compares Bitcoin’s current price behavior to previous cycles and highlights indicators suggesting a possible divergence from historical patterns. Unlike previous cycles, the current bull market is characterized by a higher frequency of Bitcoin purchases by large institutions and the increasing adoption of the asset by traditional financial players. This suggests that the market has matured and that Bitcoin is being perceived as a more legitimate investment. Overall, Grayscale's report suggests that the current Bitcoin bull market is different from those in the past due to increased institutional adoption and the entry of cryptocurrency-friendly figures in politics. These factors have contributed to a more robust and long-lasting bull market, and the report anticipates that Bitcoin’s upward trajectory may continue until 2025 or even later.