New Coinbase Institutional and Glassnode research suggests that Bitcoin and Ethereum follow previous multi-year price cycles. Analysts note that metrics such as unrealized profits are mirroring trends from 2018 to 2022, a period marked by a significant surge in the value of these cryptocurrencies.

The report indicates that critical indicators, including net unrealized profit/loss and profit supply, follow past trends. This similarity suggests that despite not exhibiting the euphoria of its 2023 peak, the crypto market may still have the potential for substantial growth.

The Coinbase Research report features Bitcoin’s journey prominently since its last cycle low, highlighting its performance. The study discusses the eagerly anticipated Bitcoin halving event set for April 2024. This event will decrease the block reward from 6.25 to 3.125 BTC, a change that has historically impacted Bitcoin’s value significantly.

However, the report urges caution, calling for more data to establish a consistent pattern from previous halvings and considering external factors like global liquidity measures.

The research also indicates that Ethereum’s upcoming Cancun upgrade aims to reduce layer-2 transaction costs on the network. The analyst expects this upgrade to enhance Ethereum’s scalability and security considerably. Additionally, by focusing on cost efficiency for layer-2 transactions, the Cancun upgrade will likely significantly boost Ethereum’s transac

Go to Source to See Full Article
Author: Ana Ojeda

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details