Bitcoin (BTC) follows the trajectory of the 2017 cycle. Despite the recent market turbulence, it has been promoted by the escalate of tariff tension between the United States, its neighboring countries, and China.
Bitcoin has increased by about 525 % because the cycle during the collapse of the FTX collapse in November 2022. Bitcoin rose by 533 % in the same stage of the 2017 cycle.
On the other hand, another way to evaluate bitcoin periodic movement is to measure returns from previous highs. The peak of the last cycle market occurred for about $ 64,000 in April 2021, but in nominal conditions, Bitcoin's highest history was $ 69,000 in November 2021.
However, many chain indicators suggest that April 2021 marked the true top of the cycle. Despite the ongoing geopolitical tension, Bitcoin has demonstrated a remarkable consistency in the previous cycle tracking.
In addition, Bitcoin (BTC) has maintained a range of $ 90,000 to $ 109,000 for the past 2.5 months, even in the increase in market volatility. Bitcoin continues to test both the current maximum and lower limit of the current trading channel.
On the other hand, a previous coindesk survey was identified as a bitcoin local bottom.
