Bybit Report Suggests Bitcoin Rally Could Extend

Historical Analysis of the Bitcoin Cycle

Our Crypto Insights report attempts to answer the key question of whether the current bull run is over.

Based on Bitcoin's ratios during the previous cycles, the bull run will extend into the third quarter of 2024.

Bybit, the world's second-largest crypto exchange by trading volume, in collaboration with Delphi Digital, has released a report suggesting that the current Bitcoin rally may not yet be over.

The report, titled "Historical Analysis of the Bitcoin Cycle," examines the price action of Bitcoin during previous bull and bear markets and concludes that the current rally is still in its early stages.

The report's authors argue that Bitcoin's current price-to-earnings ratio is still well below its historical average, and that the network's fundamentals are stronger than ever before.

They also point to the fact that Bitcoin has historically outperformed other asset classes during periods of economic uncertainty, and that the current global economic climate is ripe for a Bitcoin rally.

Of course, there are no guarantees in the crypto market, and it is always possible that the Bitcoin rally could end prematurely.

However, the Bybit report suggests that the odds are in favor of the rally continuing for the foreseeable future.