Bitcoin (BTC) continues to follow the trajectory of its 2017 cycle. Despite the recent turbulence of the market, promoted by the growing tariff tensions between the United States and its neighboring countries, as well as by China.
Bitcoin remains approximately 525% of its low cycle during the FTX collapse in November 2022. Comparatively, at the same stage of the 2017 cycle, Bitcoin had increased 533%.
Meanwhile, another method to evaluate the cyclic behavior of Bitcoin is to measure the returns of the previous maximums of all time. The peak of the last cycle market occurred in April 2021 in approximately $ 64,000, although in nominal terms, Bitcoin’s maximum was $ 69,000 in November 2021.
However, many indicators in the chain suggest that April 2021 marked the real top of the cycle. Despite the continuous geopolitical tensions, Bitcoin has demonstrated a remarkable consistency in monitoring the previous cycles.
In addition, Bitcoin (BTC) has remained in a range within a canal of $ 90,000 to $ 109,000 during the last 2.5 months, even in the middle of greater market volatility. Bitcoin continues to test the upper and lower limits of its current commercial channel.
Meanwhile, Coindesk’s previous investigation identified $ 91,000 as a local Bitcoin fund.
