Bitcoin Shatters Previous Cycle Performance, Potential for $100K Milestone
Bitcoin [BTC] has broken through a crucial price barrier, surpassing key levels that previously dictated its cyclical patterns during the bull market of 2015-2018.
This recent surge underscores the cryptocurrency’s resilience and increasing maturity in a market that has transformed significantly since its early days of speculation.
In contrast to the extreme highs and lows of the 2015-2018 cycle, Bitcoin’s current path seems more calculated, supported by stronger fundamentals and wider adoption.
As its price now surpasses levels that were seen as formidable barriers, there are speculations on whether this surge signifies the start of a new bullish cycle — or a potential march towards reaching a six-figure value.
Breaking Previous Cycle Patterns
The current cycle of Bitcoin is advancing at a faster pace than its 2015-2018 counterpart. Following the peak of $20,000 in 2017, Bitcoin took almost three years to recover, consolidating at lower levels before entering another bull phase.
In contrast, the recent bottom in 2022 has been followed by a swift rebound, with Bitcoin crossing $50,000 within two years — almost a year quicker than the previous recovery period.
Graphs illustrate Bitcoin’s sustained momentum, as monthly RSI indicators above 75 suggest robust bullish market conditions.
Trading volumes have also surpassed those of the earlier cycle, indicating increased market engagement.
This breakthrough represents an 80% rebound from the lows of 2022, backed by accumulation by long-term holders and decreased exchange balances.
These on-chain changes highlight stronger fundamentals compared to past cycles, indicating reduced speculation and more stable growth. Bitcoin’s rapid rebound distinguishes it from traditional trends.