Bitcoin still undervalued section…“October, cycle peak likely”

There is an analysis that Bitcoin is still undervalued compared to past bull markets. Cointelegraph quoted multiple cryptocurrency analysts as saying, "The current Bitcoin's Mayer Multiple is at 1.1," indicating that it is interpreted as an undervalued range due to its low price compared to past bull markets.

The Mayer Multiple is an indicator that compares Bitcoin's current price to the 200-day moving average, generally considered a buy zone if it is below 2.4. The current figure is well below that standard.

Cryptocurrency analyst Rekt Capital emphasized, “It is likely that October, 550 days after the Bitcoin halving in April 2024, will be the peak of this cycle," and "Now may be the last low before a full rally."

In the market, there is increasing anticipation that the remaining 3 months could be a crucial period for long-term investors, as movements after the halving and on-chain indicators are in alignment.