According to BlockBeats, on July 2, CNBC cited a CCData report that Bitcoin has not yet reached the peak of its current appreciation cycle and may exceed its all-time high this year. Bitcoin hit an all-time high of more than $73,700 in March, but has since fluctuated between about $59,000 and $72,000.
The journey to record highs in March was largely due to the approval and launch of Bitcoin spot exchange-traded funds (ETFs) in the United States in January. According to CCData, these ETFs have attracted approximately $14.41 billion in net inflows so far this year.
The Bitcoin "cycle" mainly revolves around the "halving" event. Historical trends show that the "halving" event always precedes a period of price increases, which may last from 366 days to 548 days, "and then the cycle top is generated. Due to the maturity of the asset class and the reduction of volatility, each halving will experience a longer cycle than the previous one."
