Is the Bull Market Over in Bitcoin? Will It Continue? Response from the Analyst!

The latest data answers whether the Bitcoin bull is over or whether the rise will continue.

A writer from on-chain data and analysis platform CryptoQuant has published an analysis on whether the bull market in Bitcoin is over.

While the analyst stated that Bitcoin has experienced great growth in the last 2 years, he said that it has also significantly affected the prices of other cryptocurrencies. It was stated that this process took place in a more hopeful way compared to the down market in 2022.

The analyst, who used the 60-day Realized Market Value and Market Value Difference (RCV) metric to estimate the current situation of Bitcoin, made the following statements:

This metric measures the change in realized market value relative to Bitcoin's market value over the last two months and is extremely useful for long-term investment decisions with its Dollar Cost Average (DCA) model.

According to the metric in question, Bitcoin price has reached the risk zone. However, the analyst stated that the market is also likely to see higher levels such as 0.7, and said that a demand increase at the 0.50 level of the metric could exhibit 2017-like behavior and set new long-term high levels for Bitcoin.