Quant Points Out Striking Resemblance Between 2017 And 2021 Bitcoin Cycles
A quant has pointed out the similarities between the 2017 and 2021 Bitcoin cycles, something that could hint at how the rest of this bear market might play out. Both 2017 And 2021 Bitcoin Cycles Saw New Lows Around The 365-Day Mark Since The Top As explained by an analyst in a CryptoQuant post, the two cycles are more similar than one might expect them to be. The indicator of relevance here is the “drawdown from ATH,” which measures the percentage decrease in the price of Bitcoin following the all-time high during each cycle. Here is a chart that shows the trend in this metric....
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A quant has pointed out parallels between the current and the 2017 Bitcoin cycles, something that may contain hints about what’s next for the asset. The Current Bitcoin Cycle Has Shown Interesting Parallels With The 2017 Cycle As explained by an analyst in a CryptoQuant post, there have been five interesting recent events in the current cycle that are similar to what was seen in the 2017 cycle. The 2017 cycle hit its top in December of that year, while the current cycle hit its top back in November of 2021. The entirety of these cycles isn’t relevant in the context of the....
Bitcoin is now trading over $7,000 below its peak reached to start the year – a peak that is more than double its previous all-time high. And while believers in the cryptocurrency are certain this is just another pullback before more price discovery, the similarities between the 2017 top and now are undeniably striking. Here’s […]
According to a CryptoQuant analyst, the Bitcoin price top isn’t in yet if the pattern of past bull cycles holds any weight. Bitcoin Might Reach A New ATH In This Cycle As per a CryptoQuant post, it’s possible that Bitcoin hasn’t yet reached the cycle top, and that a new all time high (ATH) might be achieved soon. There are two ways to define a cycle. The first is to make the initial point the BTC halving. Here is a chart that shows how the price of the coin moved in the 2012, 2016, and 2020 bull cycles based on this criterion: Price vs the number of days after halving in....
Bitcoin NUPL data suggests that the crypto’s cycles are getting less sharper with time as profit tops and loss bottoms aren’t following a horizontal line. Bitcoin NUPL Didn’t Exceed The 0.75 “Greed” Mark During This Cycle As explained by an analyst in a CryptoQuant post, the BTC profit and loss cycles shouldn’t be treated with horizontal lines. The “Net Unrealized Profit and Loss” (or the NUPL in brief) is an indicator that tells us whether the market as a whole is holding a net profit or a net loss right now. The metric’s value is....
Quant rose to its highest point since the start of the year on Saturday, as prices climbed for a third straight session. In addition to this, tron was also higher, as the token attempted to break out of a key resistance point. Overall, cryptocurrency markets were down 1.95% as of writing. Quant (QNT) Quant (QNT) was one of the notable movers to start the weekend, as the token surged to a ten-month high. Following a low of $162.00 on Friday, QNT/USD surged to an intraday peak of $184.98 earlier in today’s session. This move saw the token climb to its highest point since January 8,....