K33 report: Bitcoin price recovery will be “significantly faster” than previous cycles
According to the latest K33 research report, the speed at which Bitcoin prices recover to historical highs will "significantly accelerate" during this cycle. K33 senior analyst Vetle Lunde and Vice President Anders Helseth stated that the decline has lasted for 755 days so far, and currently, it is about 36% lower than the historical high of Bitcoin set in November 2021 (about $69,000). In comparison, it took 1,178 days to recover to the previous high point after 2013, and 1,092 days after 2017.
The analysts added: "The US spot ETF will receive a final ruling within 36 days, and the market has shown a huge demand accumulating before its expected launch," they believe that the current rise is caused by a true and convincing narrative."
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.
You may also like
Justin Sun Announces Major Update for Tron (TRX)
Tron (TRX) founder Justin Sun signaled an important change for the altcoin in his statement.
Warren Buffett’s Crypto Gift from Justin Sun Surges 1,000% in Value by 2024
Roblox will allow devs to skip Robux and charge players in fiat money
VanEck’s Matthew Sigel Defends Ethereum’s Strong Utility Despite Bearish Market
