That the price action of the past months are not exactly bullish, should probably be clear to everyone. Most altcoins, as well as Bitcoin, are deeply in decline compared to the high of 2021. However, one should not forget that Bitcoin was still trading at just under $3,000 in March 2020.
The year 2021 had initially started promisingly as the entire crypto market was able to reap immense profits. But compared to the Bull cycles of 2013 and 2017, the increase was still, to put it mildly, minimal. Experts assumed that the Bitcoin price will rise far beyond a six-digit price level, but the mood has changed since then.
One now reads more often of Bitcoin forecasts, which predict a collapse towards $20.000. To get a better look at current price behavior, let’s take a look at recent cycles. Trader Kaleo posted an extensive Twitter thread yesterday comparing the 2021 bull run to 2013 and 2017. There are some similarities.