Bitcoin's Current Valuation May Indicate Pre-Bull Market Consolidation
10/22/2024 7:30:00 PM
According to CryptoMichNL, evaluating Bitcoin at its current price level doesn't align with historical patterns. When comparing Bitcoin's value against the S&P 500 or adjusting for inflation, it appears to follow previous market cycles, suggesting that the bull market hasn't yet begun. This phase is likely a consolidation period, implying that Bitcoin's valuations could rise significantly once the bull market starts. (Source)
Bitcoin Bull Market inflation S&P 500