Glassnode: data shows BTC still has potential upside at current market stage

BlockBeats News, January 30, 2011 - The rate of bitcoin price appreciation has been declining cycle by cycle, reflecting the market's process of maturing, Glassnode said in a research note published on January 29th. The retracements in the current cycle so far have been very similar to the 2015-2017 cycle, and previous cycles have hinted that the bull market may be in for an acceleration at this stage. BTC's real market capitalization has grown 2.1x so far in this cycle, down from the 5.7x peak in the previous cycle and on par with the 2015-2018 cycle. The mania phase has not yet fully impacted real market capitalization, suggesting that there is potential room for further market expansion.