Get ready for the next phase of the Bitcoin bull cycle, as the upcoming halving event is set to propel BTC to new heights. Despite a recent 13% price drop from its all-time high, on-chain analytics firm CryptoQuant suggests that the bull cycle is far from over. With the halving event just around the corner, expected to occur in less than 31 days, anticipation is building for a parabolic uptrend in BTC price.

CryptoQuant's Weekly Crypto Report highlights that the current level of investment flows from new investors remains relatively low, indicating ample room for growth. Additionally, valuation metrics suggest that BTC is still below levels consistent with past market tops, signaling further upside potential.

The impending halving event, reducing miner block rewards by 50%, historically precedes significant price upticks in Bitcoin. Standard Chartered Bank has raised its price forecast for BTC, projecting a potential surge to $150,000 by the end of 2024 and reaching a cycle peak of $250,000 in 2025.

As excitement builds around Bitcoin's future trajectory, investors are urged to conduct thorough research and make informed decisions. Stay tuned for more updates on the crypto market's evolution! #BitcoinBullRun #HalvingEvent 🚀📈