Odaily Planet Daily News Encryption data analysis platform CryptoQuant said in a weekly report that Bitcoin’s recent price trend is very similar to past cycles, which indicates that Bitcoin may still be in a consolidation phase before the 2024 halving event, but also hints that " Prices may rise significantly after the halving.”
CryptoQuant analysts believe that Bitcoin’s current valuation is undervalued and there is no widespread retail speculation, providing data support for its potential for future price growth. (CoinDesk)