Is Bitcoin Repeating Previous Bull Cycles?
Are we repeating the same patterns we are all accustomed to, or is this time something different?
Bitcoin’s price cycles have long been a source of intrigue for investors and analysts alike. We can gain insights into potential price movements by comparing current trends to previous cycles, especially with Bitcoin seemingly coming to an end of its consolidation period, many wonder if the next leg up is around the corner.
Comparing Bitcoin Cycles
To begin, it’s crucial to look at how Bitcoin has performed since hitting its recent cycle low. As we examine the data, a clear picture begins to form: Bitcoin's current price action (black line) is showing patterns similar to previous bull cycles. Although it has been a choppy consolidation period, where the price has been relatively stagnant, there are key similarities when we compare this cycle to those in 2015-2018 (purple line) and 2018-2022 (blue line).
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