Summary
- Bitcoin is said to be showing a similar upward pattern to the 2017 cycle despite the tariff conflict.
- Bitcoin has risen about 525% from the low after the 2022 FTX incident, which is similar to the increase rate of the 2017 cycle.
- Bitcoin is currently repeatedly testing between $90,000 and $109,000, and $91,000 is expected to be the short-term bottom.
Despite the U.S. tariff war, Bitcoin (BTC) is still showing patterns similar to the 2017 cycle, according to evaluations.
On the 3rd (local time), Vanstraten, an analyst at CoinDesk, stated, "Although the U.S. tariff conflict has intensified, Bitcoin remains similar to the 2017 cycle," adding, "Bitcoin has risen approximately 525% from the low recorded during the FTX incident in 2022." He further noted, "This is a similar figure to the 533% increase recorded at the same point in the 2017 cycle."
Furthermore, he mentioned, "Bitcoin has been repeatedly testing the upper and lower bounds between $90,000 and $109,000 over the past two and a half months," and predicted, "$91,000 will be Bitcoin's short-term bottom."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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