#加密圈新年预测2025谁将是黑马
As per Glassnode's analysis of historical on-chain metrics, Bitcoin (BTC) seems to have enough room for growth
Based on one on-chain indication, prominent on-chain analytics company Glassnode thinks Bitcoin (BTC) has more upward potential.
The analytics company mentions Bitcoin's Realized Cap on the social networking platform X; this cap tracks the most recent price of each coin and attempts to determine the number of holders who are making or losing money.
A major factor in rising markets, Realized Cap follows the total amount of money flowing into Bitcoin. From its low in 2022, it has increased by 2.1 times, which is lower than the 5.7 times high of the previous cycle. There hasn't been the usual rapid acceleration during the euphoric period.
According to Glassnode, spot market speculators were a major force throughout Bitcoin's 2015–2018 bull run. The cryptocurrency seems to be repeating that pattern again.
According to the report, "strong demand, ETF (exchange-traded fund) inflows, and Bitcoin's role as a macro asset" explain why, despite a significantly greater market size, pullbacks have seldom surpassed -25%.
According to the analytics company, when fresh demand emerges, prices can experience a "second euphoric phase" of rapid acceleration.
A 100x rebound from the bottom, as in 2015, is implausible at today's size, yet prior cycles witnessed spectacular expansion. Additional growth might be possible if demand increases.