Since mid-2017, the Bitcoin price has gone through three market cycles; each of them lasted for 67 weeks, or 469 days. Historically, Bitcoin has started its rallies after the"bear market" search reached peak values.
This took place in December 2018. In March 2020, Bitcoin bottomed earlier than expected under the pressure of world recession fears.The last peak of interest in"bear market" was registered in late May 2022. The 469-day cycle will end in mid-June. As such, the much-anticipated bottom may either be in or close.Yesterday, Bitcoin , the flagship cryptocurrency, jumped to $31,700, which is the highest level since June 1, 2022.
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