The cycle repeats: Someday Bitcoin will outgrow its four-year price cycles. Until then, it’s “deja vu all over again.” In the bitcoin bear market of 2014-2015, the price gravitated to around $350 until finally capitulating to $200 and staying there for months. In the bitcoin bear market of 2018-2019, the price gravitated to around $6,000 until finally capitulating to $3,200 and staying there for months. And in the bitcoin bear market of 2022-2023, the price gravitated to around $28,000 until finally capitulating to $16,000 and staying there for months. In each of these cases, the price followed a similar pattern of a peak, a multi-month series of lower price highs and a final capitulation of over 40% that lasted for several months, staying true to the past trends.
Source: https://www.coindesk.com/markets/2023/04/27/bye-bye-bitcoin-bear/?utm_medium=referral&utm_source=rss&utm_campaign=headlines