From Investing.com

July 12, 2024 2:30:27 pm:

Crypto analyst Lark Davis, known as “TheCryptoLark,” points out that Bitcoin has surged 356% since this cycle’s low, tracking closely with previous market cycles. Glassnode analysis shows Bitcoin’s market cap has risen by over $1.13 trillion since the cycle low, with digital assets’ total market capitalization at $2.56 trillion, half of which is Bitcoin’s $1.33 trillion.

In an evaluation of Bitcoin’s past halving events, Glassnode compares performances post-2016 and post-2020 halvings, showing quiet months followed by peak surges of +350% and +650%. The current cycle post-April 2024 halving has seen mild price fluctuations. Despite a 20.3% drop from the recent peak, downturns have been less severe than past cycles.

Bitcoin has dropped 2.32% in the last 24 hours to $57,280. Glassnode notes Bitcoin has remained the industry’s biggest asset for 16 years, comprising 52.7% of the total market value. The current price performance echoes past cycles, suggesting history could repeat itself with another market surge.

Read more at Investing.com: Analyst Notes Historical Trend By U.Today