The Current Chart in Bitcoin is Very Similar to the 2017 Bul

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The Current Chart in Bitcoin is Very Similar to the 2017 Bull! The current chart in Bitcoin (BTC) reveals a very similar scenario to the 2017 bull. On-chain analysis platform Glassnode talked about the current situation of Bitcoin in its post dated May 29. Stating that the correction experienced in the past weeks is the largest correction recorded since the collapse of FTX, analysts emphasized that the current picture is hopeful. When compared to past bull markets, it was stated that the downward move in 2024 is quite similar to the corrections in the 2015-2017 bull. Glassnode analysts included the following statements in the details of their statements: Bitcoin recorded the deepest correction on a closing basis since the FTX lows (-20.3%) before recovering towards the ATH, reaching $71K on May 20. From a comparative perspective, the bearish pattern in the 2023-24 uptrend looks quite similar to the 2015-17 bull market.

The Current Chart in Bitcoin is Very Similar to the 2017 Bull!
The current chart in Bitcoin (BTC) reveals a very similar scenario to the 2017 bull.
On-chain analysis platform Glassnode talked about the current situation of Bitcoin in its post dated May 29. Stating that the correction experienced in the past weeks is the largest correction recorded since the collapse of FTX, analysts emphasized that the current picture is hopeful.
When compared to past bull markets, it was stated that the downward move in 2024 is quite similar to the corrections in the 2015-2017 bull.
Glassnode analysts included the following statements in the details of their statements:
Bitcoin recorded the deepest correction on a closing basis since the FTX lows (-20.3%) before recovering towards the ATH, reaching $71K on May 20. From a comparative perspective, the bearish pattern in the 2023-24 uptrend looks quite similar to the 2015-17 bull market.