BTC Cycle
Performance and
Drawdowns
Bitcoin has historically exhibited
exponential gains during bull cycles, but
each cycle has also seen numerous large
drawdowns.
The current bull market cycle, which began
in November 2022, has seen prices reach
~4x from the lows. The two prior bull
markets (2015-2017 and 2018-2021) saw
prices rise 100x and 20x, respectively.
Prior cycles saw an average of:
Nine drawdowns between 5%-20%
Three drawdowns between 20%-40%
One drawdown between 40%-70%
The current cycle has seen:
Eight drawdowns between 5%-20%
Two drawdowns between 20%-30%
No drawdowns greater than 30%
