How Long Will the Bitcoin Bull Last? Pay Attention to This Date for Its End!
Latest data revealed how much upward potential remains in Bitcoin.
In his analysis, a writer from on-chain data and analysis account CryptoQuant commented on how much of a bull cycle Bitcoin has potentially left.
Saying that the in-profit supply indicator represents the percentage of circulating Bitcoin supply that is in profit, the analyst stated that the indicator will approach 100% as most investors will see profit when the price exceeds the all-time high of the previous cycle.
Noting that the indicator usually remains at 90%-100% levels for about 6 to 12 months in the bull market, the analyst said that he uses other data for a clear comparison.
He emphasized that Bitcoin's cycle period takes 1,500 days due to its halving every 4 years, and therefore the bull market can be detected.
It was stated that the rallies, which were separated by different colors, lasted 580 days between 2015-2018 and 280 days between 2019-2022. Currently, it is not yet known how far Bitcoin, which has been above the determined indicator for 180 days, has gone.
However, according to the analyst, it was noted that the bull market lasted for approximately 300 to 600 days based on both cycles, so the upward momentum will continue for at least 3 more months.
