Bitcoin has surged into March's final week, recovering $71,000 milestone
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The 2015-2017 bull market peaked at $19,891 on Dec. 17, 2017. During the subsequent bear market, the price of Bitcoin fell by 84%. Meanwhile, the bull market from 2018 to 2021 peaked at $69,000 on Nov. 10, 2021, followed by a 77% decline.The starting point for this current bull run is Nov. 21, 2022, at $15,460, and past halving cycles suggest a top in August 2025. Bitcoin's drawdown in this present cycle has so far ranged between 11.5% and 22.6%.
Through an examination of past price movements, a pattern is seen in both the magnitude and duration of these corrections, offering insights for understanding the cyclical nature of Bitcoin's market cycles.data. It increased to $71,582 in early Tuesday trading, marking the fourth day of advances since recovering from Friday's lows of $62,258.Bitcoin has been in corrective mode for the past week, following an all-time high of $73,797.68 on March 14.
Bitcoin is on track to end March on a positive note. It has gained 16% this month and 66% so far in the first quarter.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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