Written by

Vetle Lunde

Senior Analyst

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.


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

Source: Tradingview