The bull market everyone has been waiting for usually occurs after the overheating of the recovery phase ends. The recovery phase sets the stage before the main game begins.

Every recovery phase has its overheating and peak moments. This time the atmosphere became even warmer than in previous cycles, and the situation was resolved over time, not by price corrections.

According to past cycles, the transition from the recovery to the main play began when MVRV reached the average of the Bollinger Bands, or the average level of the four-year cycle.

The market is still at 2.23 MVRV, more than double the average on-chain purchase price. If there is a similar pattern to the past, a correction of around -20% is possible. (this level is MVRV 1.7+-)

TRUE! Reaching 50k is considered 'normal' in this context. There is nothing unusual about this, given the rapid and steep nature of this recovery phase.

Will it really reach this price? It's uncertain, but the possibility exists. Factors such as ETFs, interest rates, war, and a different pattern of period adjustments may play a role.

This is not a prophecy, but a preparation for what may happen.

Written by CoinLupin.