Is this #Bitcoin Cycle Different?
Bitcoin has entered price discovery mode as of November 2024, a phase where its price reaches new highs with no prior resistance levels. Here’s how this cycle compares to the past:
1. 2017 Cycle: Price discovery lasted 8 weeks, with a strong rally before the first major pullback.
2. 2020/2021 Cycle: The rally continued for 4 weeks before hitting turbulence.
This cycle, however, feels different:
- Institutional adoption is at an all-time high with Bitcoin ETFs fueling demand.
- Global macro uncertainty is pushing more investors into Bitcoin as a safe haven.
- The network’s fundamentals, like hash rate and wallet activity, are stronger than ever.
Is Bitcoin up for its biggest rally yet? 👀
