Bitcoin's price has dropped after hitting a record high above $100,000. Experts are comparing its current behavior to the 2017 bull market. While there are some differences, similarities remain.
- Bitcoin's price is showing a strong resemblance to its 2017 rise, although a recent dip created a slight divergence.
- The MVRV ratio, which tracks investor behavior, is also similar to 2017, indicating potential for future price changes.
- A time lag in how global money supply affects Bitcoin's price might explain the recent divergence.
| Feature | Data |
|---|---|
| Correlation with 2017 (before lag adjustment) | 91% |
| Correlation with 2017 (after 30-day lag adjustment) | 93% |
| Potential future price movement | A major rally is possible if the historical pattern continues. |
