The grayscale research determines that the current indicator combination fits the mid-term phase of the cycle. As long as the fundamentals are solid, such as the widespread application and a favorable macro market environment, the bull market is expected to continue until 2025 and beyond.

Many people mistakenly believe that cryptocurrency assets have no substantial value and are difficult to evaluate using traditional investment methods. However, Grayscale's view is quite the opposite.

Given the high initial valuation, the potential for further increases in ETH prices may be limited compared to the Bitcoin ETF launching in January 2024.

In this article, we will delve into the meaning, significance, and historical impact of halving on Bitcoin's performance. Then, we will examine the current landscape of Bitcoin and why the situation is vastly different compared to just a year ago.