Glassnode, a big name in crypto analytics, thinks Bitcoin (BTC) can still climb higher. They’re looking at a metric called “Realized Cap,” which basically tracks the average price each Bitcoin was last bought or sold at. This helps show how many holders are making money or losing money.
Realized Cap and Bitcoin’s Potential
Glassnode says the Realized Cap shows how much money is flowing into Bitcoin. This is a key factor in bull markets. While it’s grown significantly since the 2022 low, it hasn’t reached the same level of growth seen in previous bull runs. They believe there’s still potential for a much bigger jump.
Comparing to Past Cycles
This current Bitcoin cycle seems to be following a similar pattern to the 2015-2018 bull run. Even with Bitcoin’s much larger market cap now, price drops have been relatively small, suggesting strong investor demand. Things like ETFs (exchange-traded funds) and Bitcoin’s growing role as a mainstream asset are contributing factors.
The Second Euphoric Phase
Glassnode predicts a “second euphoric phase” where prices accelerate rapidly. While they don’t expect the massive 100x gains seen in past cycles, they believe there’s still room for significant growth if investor demand increases.
Current Bitcoin Price and Disclaimer
At the time of writing, Bitcoin is trading around $101,807, down slightly in the last 24 hours. Remember, this information is not financial advice. Always do your own research before investing in cryptocurrencies.
