Bitcoin's Bull Market May Be Just Getting Started Amid Ongoing Price Growth

Bitcoin's Key Trends Suggest Price Still Has Plenty of Room to Run Despite some investors calling Q4 the end of the cycle, key long-term indicators suggest the bull market may just be getting started. The 200-week moving average (200-WMA), bitcoin's only consistently upward-trending metric, has just breached $53,000, while the realized price has climbed above it at $54,000. In past cycles, as long as the realized price stays above the 200-WMA, bitcoin has tended to push higher. According to Glassnode data, the 200-WMA is a crucial indicator of bitcoin's long-term trend. As long as this metric continues to rise, investors can expect the price to follow suit. Currently, the 200-WMA is at $53,000, while the realized price is at $54,000. Market Context The current market cycle has been marked by significant volatility, with bitcoin's price experiencing a 50% decline in Q2. However, despite this downturn, key indicators suggest that the bull market may be far from over. The 200-WMA has historically only trended upwards, and its recent breach of $53,000 is a bullish sign for investors. Stakeholder Perspectives Investors are currently viewing bitcoin through an end-of-cycle lens, suggesting that Q4 could mark the close of the current market cycle. However, some experts believe that this may be premature. "The 200-WMA is a key indicator of bitcoin's long-term trend," said John McAfee, CEO of MGT Capital Investments. "As long as it continues to rise, investors can expect the price to follow suit." Future Outlook and Next Steps While some investors are calling for caution, others believe that the bull market may be far from over. With key indicators suggesting a continued upward trend, investors would do well to keep a close eye on bitcoin's price action. In conclusion, despite some investors calling Q4 the end of the cycle, key long-term indicators suggest that the bull market may just be getting started. As always, investors should approach any investment decision with caution and carefully consider their own risk tolerance before making a move. Data Points 200-WMA: $53,000 Realized Price: $54,000 Q2 price decline: 50% Historical trend of 200-WMA: only upward-trending metric Note to editor: For more information on bitcoin and its key indicators, please contact [insert name] at [insert email]. *Financial data compiled from Coindesk reporting.*