I believe that the first phase, YES it was the first, of the bull cycle is done. This means that the SECOND phase will begin! The current price levels are in a zone where everything is still believable. But by the end of this phase prices will be absolutely and utterly in complete INSANITY.
EVERYONE who has been accumulating and HODLing their Bitcoins will be richer by the very end of the bull cycle. FASTEN YOUR SEAT BELTS AND BUY EVERY DIP AND HODL.
I think the first one happen when Trump win on election since many people believe that there's something more to happen especially that he's so vocal on his support on Bitcoin. There's huge possibilities that the second one will happen when Trump successfully take over the set and sign some good laws that can help Bitcoin to strengthen up its existence or usage in US. Plus they have this plan to make Bitcoin as their reserve
https://www.forbes.com/sites/digital-assets/2024/12/14/trump-confirms-bitcoin-reserve-plans-15-trillion-price-boom-predicted/ imagine how huge potential for more good pumps will happen next year. That's why its good to focus on accumulating since there are more great things to happen for next following years with Bitcoin. Those adaption they made is just a start of more good developments that will happen for Bitcoin.