Bitcoin Fell But Maintained Its Trend: Moving in Bullish Direction! - Coin Bulletin

Despite the uncertainties in the global markets, Bitcoin has been following a trajectory similar to the 2017 cycle and has continued to move within the range of $90,000 to $109,000 for the past 2.5 months.

Bitcoin (BTC) continues to follow a trajectory similar to the market cycle in 2017. It emphasized that volatility has increased due to uncertainties in global markets and increasing trade tensions between the United States and neighboring countries, as well as tariff crises with China.

After the collapse of the FTX exchange in November 2022, it has been recorded that Bitcoin has gained approximately 525% in value from the bottom level. In the 2017 cycle, this increase occurred at the same stage with a rate of 533%.

This situation was highlighted among the headlines brought to the fore by experts indicating that it maintains the long-term cyclical structure of Bitcoin.

Bitcoin may continue its quest for the summit

CoinDesk analyst James Van Straten emphasized that as another method of analyzing the price cycle of Bitcoin, it is important to evaluate the returns measured from the all-time high levels (ATH).

Bitcoin, which reached a peak of approximately $64,000 in April 2021, reportedly rose to as high as $69,000 in November 2021 nominally. However, many on-chain indicators claimed that the real peak occurred in April 2021.

In the past 2.5 months, Bitcoin, which has been moving horizontally in the range of $90,000 to $109,000, has continued to test both the upper and lower levels within this band. According to previous CoinDesk analyses, it was emphasized that $91,000 level is considered as a local bottom point.

Despite current geopolitical risks, Bitcoin continues to be a strong store of value for long-term investors, following a similar trend to previous market cycles.