BTC Bull Market Forecast: Bybit Predicts 350 More Days of Upswing

BTC Bull Market Forecast: Bybit Predicts 350 More Days of Upswing

Bitcoin's bull market shows no signs of slowing down, according to a recent report by cryptocurrency exchange Bybit and crypto research firm BlockScholes. The report predicts that the bull market could continue for another 350 days, extending the current run into the third quarter of next year. This bullish outlook is based on several factors. First, Bitcoin's recent rally has been relatively modest compared to previous cycles. Historically, Bitcoin has seen 20x gains from cycle lows. However, the current rally has only seen 3.5x gains so far. This suggests that there is still plenty of room for growth. Second, Bitcoin is currently in the second phase of its current cycle. In this phase, Bitcoin typically breaks out above the previous all-time high and moves toward new highs. This is exactly what we have seen in recent months. Finally, institutional investors have been leading the Bitcoin rally in 2024. This is a key factor in BTC's further appreciation, as institutional investors tend to be more risk-averse and only invest in assets that they believe have long-term potential. Overall, the Bybit report provides a strong case for the continuation of Bitcoin's bull market. With 350 more days of potential upside, now could be a good time to consider adding Bitcoin to your portfolio.