11 Apr 2023
A reliable pattern or an illusory correlation?
BTC’s current drawdown and recovery cycle is remarkably similar to the pattern seen in the 2018-19 bear market in terms of length and trajectory. Let's look at some clues from the past.
Takeaways
If history repeats BTC will peak around May 20 at $45,000
Current BTC price cycle remarkable similar to previous cycles
Committed long-term holders are still unwilling to sell at 60% drawdown
The early 2023 rally has all the hallmarks of a hated rally
