Summary
TLDR: Bitcoin reclaimed its $69,000 all-time high in less than 850 days, faster than previous cycles. The drawdowns have stayed around 80% and it typically takes 240-345 days to hit a new all-time high after reclaiming a peak. Bitcoin’s returns have shrunk every cycle, with the next peak expected between November 2022 and March 2025.
Key Points
1. Bitcoin reclaimed its $69,000 all-time high in less than 850 days, faster than the previous two cycles spanning nearly a decade.
2. Bitcoin needed eight more months to break its near-$20,000 record from late 2017, after tanking 85% following that peak.
3. Bitcoin’s most recent all-time high is its fastest yet, with drawdowns staying around 80% and cycles bottoming out around one year after each peak.