Crypto Market Trends Resemble 2017, Suggests Extended Cycle
the current cryptocurrency market is exhibiting patterns reminiscent of 2017, a year when Bitcoin experienced a steady rise before a dramatic surge in December. Raoul Pal, CEO of the crypto research platform Real Vision, highlighted these similarities in a recent video. Pal anticipates a prolonged crypto cycle this time, citing his macroeconomic model, the business cycle score, which remains below 50, indicating a gradual climb.
Bitcoin's performance in 2017 saw it start the year at approximately $1,044, reaching $2,187 by the end of