Sunday, February 25, 2024


Surely with the current market situation, when BTC has not shown growth for 2 months, we all have a question. Is the growth season in 2023 over? ——————————– ***The performance of BTC in 2023*** It can be said, 2023 is a great year for BTC. Since the beginning of the year, BTC has had an absolute performance of 87.84% and is currently at 60% compared to the beginning of the year. The Crypto market opened the year with euphoria spreading throughout the financial markets. After that, the bankruptcy of the SIVB bank created a huge shelter demand for BTC, immediately pushing BTC above the $30K mark. However, that is all BTC can do. After a month of lots of FUDs, BTC is currently standing at 26k, just above the 200 EMA. ***BTC Cycle*** Before making any predictions, we should take a little look back. on the price cycle of BTC in the most recent cycle. The 2017-2018 BTC bear market from peak to trough was 364 days. And BTC’s 2019 bull market spanned 194 days. BTC’s 2021 – 2022 bear market from peak to trough is 374 days. And the 2023 BTC bull market is now 197 days old. If the history of the previous cycle repeats itself, when we always compare this bull run to the bull run of 2019, then perhaps BTC’s rally in 2023 is over. ***The rest of the market*** We probably won’t see BTC grow in the second half of 2023, but that’s not entirely true of the Crypto market. The fact that BTC has a downward trend in the second half of 2019 has created conditions for some coins to fly to the top at that time. Names that can be mentioned are: Synthetix – $SNX saw a 38x increase and 50% of them (18x increase respectively) after BTC peaked in 2019. ChainLink – $LINK saw a 10x growth times, and 80% of that momentum (4x) came after BTC peaked in 2019. Binance Coin – $BNB saw an 800% increase and 50% of that came after BTC peaked. In your opinion, has BTC peaked this year in 2023?

Source: Collector



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