Cryptominati

Unraveling Bitcoin's Recent Cycle: A Bullish Turn Amidst Bearish Trends The recent cycle for Bitcoin has undeniably displayed bearish tendencies, evident in the data it presents. A stark departure from the explosive growth witnessed in previous cycles, this cycle's major move at the outset was followed by years spent beneath the bull market mid-line on the RR deviation. Even with the significant dip to $25,000, Bitcoin managed to maintain its stance within a bull market throughout 2023. This resilience raises intriguing questions about the dynamics at play in the current market, challenging conventional expectations. Comparisons to the second cycle (2015 - 2018) become apparent when scrutinizing the characteristics of this cycle. The data suggests more consistent gains and the possibility of even more favorable prices, aligning more closely with the steady upward trajectory witnessed in the earlier period. Image source: glassnode It becomes apparent that the cryptocurrency spac...