Bitcoin [BTC] has surged past a crucial price milestone — exceeding significant resistance levels that previously defined its cyclic behavior during the bull market of 2015-2018.
This recent breakout underscores the cryptocurrency’s resilience and increasing maturity in a market that has undergone substantial changes since its initial speculative phases.
In contrast to the sharp peaks and troughs of the 2015-2018 cycle, Bitcoin’s current path appears more calculated, supported by stronger underlying factors and wider acceptance.
With its price now surpassing levels that were once viewed as formidable barriers, there is speculation about whether this upsurge signifies the start of a new bullish cycle — or possibly a march towards a valuation of six figures.
Surpassing Historical Cycles
Bitcoin’s ongoing cycle is advancing at a swifter pace compared to its 2015-2018 counterpart. Following its peak at $20,000 in 2017, Bitcoin took almost three years to recover, consolidating at lower levels before launching its next bull rally.
In contrast, the turnaround from the 2022 low has been speedier, as Bitcoin has crossed the $50,000 mark within two years — an achievement nearly a year quicker than the previous recovery.
The graph illustrates Bitcoin’s sustained momentum, with monthly RSI figures above 75 indicating robust bullish conditions.
Trading volumes have also surpassed those seen in the earlier cycle, indicating increased engagement in the market.
This milestone signifies an 80% rebound from the 2022 lows, driven by accumulation from long-term holders and declining exchange balances.
These alterations in on-chain activity underscore more robust fundamentals in comparison to past cycles, hinting at reduced speculative behaviors and more enduring growth. Bitcoin’s expedited recovery distinguishes it from traditional patterns.