#加密市场盘整 Grayscale Report Deep Dive: The Crypto Bull Market Still Has Half the Journey to Go!
I often read research reports from large institutions, and I feel they are much more reliable than the random claims made by KOLs online. Especially those macro reports, institutions can view the market from the perspective of the entire industry, and there are professional teams analyzing for us.
Recently, I read Grayscale's report titled 'Current Status of the Crypto Cycle', which discussed where the current cryptocurrency cycle stands and predicted how the market would change in the future. Let me summarize the three key points from the report for you:
Grayscale looked at a lot of data and believes that Bitcoin's price has not yet reached its historical peak. Bitcoin and other cryptocurrencies are like products online, and prices may continue to rise. They also used some indicators to assess what stage the market is currently in, and the result was: the market is like climbing a mountain, and we haven't reached the top yet! If the market fundamentals, such as the extent to which people use cryptocurrencies and the macroeconomic situation, are still good, then the bull market may continue until 2025, or even longer!
Grayscale stated that the cryptocurrency market is not just the realm of Bitcoin; other coins are also very important. Especially about two years after the bull market starts, Bitcoin's market share will peak and then begin to decline. At that point, altcoins will have their opportunity, and their market share will start to rise. Therefore, investors need to pay attention to the performance of other coins to better assess whether the market is approaching its peak.
This bull market has many new changes compared to previous ones. The most obvious is that the United States has started to approve trading products for Bitcoin and Ethereum, attracting $36.7 billion in capital inflow and leading more people to accept these digital assets. Furthermore, after the U.S. elections, regulation may become more transparent, which is great news for the status of crypto assets in the U.S. Therefore, Grayscale believes that the valuation of Bitcoin and other crypto assets may no longer rise in a four-year cycle like before.
