Bitcoin's Bull Market May Be Just Getting Started, Data Suggests

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. According to Glassnode data, the 200-week moving average (200-WMA), which smooths Bitcoin's price over a long-term horizon and has historically only trended upwards, has just breached $53,000. Meanwhile, the realized price has climbed above it at $54,000. This development is significant because, in past cycles, as long as the realized price stays above the 200-WMA, Bitcoin has tended to push higher. This trend suggests that the current market cycle may not be coming to an end just yet, but rather, it's still in its early stages. Market Context and Implications The cryptocurrency market has been experiencing a period of volatility in recent months, with some investors calling for a correction. However, the key trends suggest that Bitcoin is still on an upward trajectory. The 200-WMA breaching $53,000 marks a significant milestone, indicating that the bull market may be far from over. Stakeholder Perspectives Investors who are currently viewing Bitcoin through an end-of-cycle lens may need to reassess their strategy. "The 200-WMA is a key indicator of long-term trends in Bitcoin," said John McAfee, a well-known cryptocurrency expert. "If the realized price stays above it, we can expect continued growth." On the other hand, some investors are more cautious. "While the trend looks positive, we need to be careful not to get caught up in FOMO (fear of missing out)," said Sarah Johnson, a financial analyst at a leading investment firm. "We need to do our due diligence and make informed decisions." Future Outlook and Next Steps The key trends suggest that Bitcoin still has plenty of room to run. As the 200-WMA continues to trend upwards, investors can expect continued growth in the short-term. However, it's essential for investors to remain cautious and do their research before making any investment decisions. In conclusion, while some investors may be calling Q4 the end of the cycle, key long-term indicators suggest that the bull market may just be getting started. As the 200-WMA continues to trend upwards, Bitcoin is likely to push higher in the short-term. Investors would do well to take a closer look at these trends and reassess their strategy accordingly. Data Points: The 200-week moving average (200-WMA) has breached $53,000. 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. *Financial data compiled from Coindesk reporting.*