Bitcoin

Bitcoin has been subject to intense scrutiny and analysis as its price continues to exhibit notable trends following each halving event with Ali, a renowned analyst, suggesting Bitcoin is still far away from the market top.Following the 2012 halving event, Bitcoin reached its peak in 367 days. Similarly, after the 2016 halving, its value soared to a market top within 526 days. The most recent halving in 2020 saw Bitcoin taking 547 days to hit its peak. According to Ali, while there may be minor fluctuations along the way, historical data suggests that we are still a considerable distance away from witnessing a market top for Bitcoin.<h2 id="header-0">Bitcoin’s Distribution Status</h2>Contrary to speculations, <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin</a> distribution has yet to commence. Long-term holders are showing minimal activity, indicating a steady hold on their investments. The Net Unrealized Profit for Bitcoin is on the brink of crossing the yellow line, suggesting that the majority of the supply is currently in a profitable position, hinting at sustained bullish sentiment for potentially several months.Bitcoin’s open interest is currently overextended, which could lead to a few liquidations, both for shorts and longs, in the near term. An astonishing 99% of Bitcoin’s supply is currently in profit. This situation could persist for several months, particularly in bullish market conditions, with occasional pullbacks.It appears that Bitcoin’s current trajectory aligns with previous halving cycles, indicating a prolonged bullish phase with substantial potential for further growth.

Bitcoin Historical Patterns Suggest Prolonged Bull Run

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