November 23, 2024

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‘Evidence is piling up’ for a new crypto bull run: Delphi Digital co-founder

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‘Evidence is piling up’ for a new crypto bull run: Delphi Digital co-founder

Several on-chain metrics and charts are showing signals that could hint at the beginning of a new crypto bull market cycle, according to the co-founder of Delphi Digital.

On Aug. 14, institutional crypto research firm Delphi Digital’s Kevin Kelly said that crypto markets are cyclical and predictable which “has huge implications for the crypto market going forward.”

“Evidence is piling up that we’re in the early stages of a new cycle. Risk assets like stocks [and] crypto have been sniffing this out all year.”

Kelly also shared an Aug. 8-dated chart by Delphi Digital, highlighting that Bitcoin follows four-year cycles with distinct patterns that have reliably repeated for the past three cycles — with Bitcoin suffering an 80% drawdown in the first year, recovering to prior highs over two years, before rallying to a new all-time high in the fourth year.