Digital asset prices may still see substantial gains before the market corrects, the analyst said.
The cryptocurrency market is now in the “later stages of the current bull cycle” and “caution is advised” for investors, according to data analytics provider CryptoQuant.
The bull market, which began in January of 2023, is likely to reach its cyclical peak by the first quarter of 2025, or the second quarter at the latest, Crypto Dan, a CryptoQuant contributor, said in a Jan. 6 post.
“With a substantial influx of new investments as well as additional funds from existing investors, it is reasonable to expect that the market is now in the latter stages of this cycle,” the post said.
