Although late, it's here! The big return of the BTC bull market after the halving is in full swing

Bitget App

Trade smarter

CryptoChan2024/10/30 06:29

By:CryptoChan

The current BTC market is reproducing the bull market performance after the historical halving cycle. From the chart, it can be seen that three curves represent the changes in the BTC MVRV (market value to average on-chain buying price) indicator for different cycles.

Black line : the current cycle after the 2024 halving.

Blue line : 20-24 year cycle.

Red line : 16-20 year cycle.

Each curve starts from the day when the BTC mining output is halved in their respective cycle. It is worth noting that this MVRV version removes long-term dormant or lost BTC on the chain that has not moved for more than 7 years to more accurately reflect the market's active level. The data shows that the current MVRV trend is similar to the historical cycle, which may indicate signs of a return to the BTC bull market.

Although late, it's here! The big return of the BTC bull market after the halving is in full swing image 0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.