Euphoria Wave
Bitcoin’s price has been volatile lately, but the good news is that the bull run may not be over yet. Recent data shows that Bitcoin has been in a “euphoria wave” for the past few months.
This means that a large percentage of Bitcoin owners are making a profit. This phase typically lasts for 6-12 months and is characterized by high investor confidence and speculation.
Bitcoin’s current euphoria wave is still relatively young, having only lasted for about two and a half months. Historically, this phase can signal a peak in the market, followed by a cooling-off period.
Based on the last cycle, we could have about three to four months left in the current bull run.
Accumulation Addresses
Another positive sign for Bitcoin is the continuous rise in accumulation addresses. This means that more and more people are buying and holding Bitcoin for the long term.
Large Bitcoin holders have also been buying, with significant purchases recorded over the past month.
Current Value
As of writing, Bitcoin is valued at $67,744, up by about 15% in the past month.
