Nov 20, · The crypto bull market is heating up. Bitcoin is leading the way — it reached more than $18, this week. That’s approaching the all-time high of nearly $20, The last time bitcoin was near this price was December of Bitcoin’s price had risen from $ on January 1st , to a peak of almost $20k in December of ‘ Dec 20, · Bitcoin Crushes Previous All-Time Price Highs Surpassing 's Bull Run Digital currency markets are on a tear this week, as a myriad of crypto assets have . Dec 17, · Beast Mode: Relative Strength Index Reading Reaches Bull Market Level. Today is December 17, , three full years after Bitcoin topped out in after becoming a household name. That year alone, the leading cryptocurrency by market cap spiked from $1, to over $20,
The great bitcoin bull market of 2017How the Bitcoin Market Changed Since ’s Bull Run - CoinDesk
Instead, Bitcoin price rises exponentially and the asset enters price discovery until speculation exceeds utility, and the bubble pops and the cycle begins again.
Paying close attention to these market cycles in the cryptocurrency has been the key to predicting what might to expect in the future of Bitcoin cycles.
The four-year intervals make these cycles somewhat predictable, and nearly right on target, the bull market is back again. If the cycle continues to follow the same path as the last time around, the parabolic phase and unimaginable prices are next. But it does also point out the fact that things could be slightly overextended currently compared to what little data is available to go by. The above chart also demonstrates that Bitcoin could be as far as six months ahead of where it was during the last cycle.
These developments show confidence that Bitcoin is here to stay. Finally, Bitcoin has matured well over the years. This means it is safer and easier to invest in it now more than ever. The rising popularity of blockchain technology providers also attests to this. Bitcoin has never looked more promising. There is no universal guide for identifying a bull market. However, some signs can indicate one.
Currently, there are only 21 million coins, which limits their supply. This gives way to an inbuilt value because of the significant power needed in mining the coins.