According to a report published by crypto exchange Bybit, the bullish trend of the first cryptocurrency should last until the third quarter of 2025, despite the asset’s correction to $58,000.
Bybit’s forecast is based on an analysis of the current ratio of the minimum and maximum price recorded by Bitcoin in previous cycles.
According to leading technical analyst and content writer at Bybit, Natnah Thompson, Bitcoin is now in the second phase of the cycle:
Retail participation has been reduced in the current cycle due to lower personal savings after a period of high inflation in the US, while institutional investors, or legal entities, have been driving the rise in Bitcoin this year, analysts explained.
Earlier, the Bybit exchange increased its share of the digital asset market and surpassed Coinbase in terms of trading volume, becoming the second largest cryptocurrency exchange in the world after Binance.
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Source: Cryptocurrency
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