2024

Bitcoin

April

Bifrost

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 <p class="paragraph">Four years ago, the world was shocked by the news of COVID-19, which <a rel="noopener noreferrer nofollow" title="crash" href="https://thebittimes.com/tag/crash.html">crash</a>ed all financial markets worldwide, including Bitcoin (BTC).</p>
 <p class="paragraph">Since then, Bitcoin has gone through a full market cycle. First, it went up to $69,000 in 2021 and then to $15,400 in 2022, consolidating in 2023. Now, a new bull market is supposedly in its first stages, with BTC breaking from its previous highs.</p>
 <p class="paragraph">Notably, the leading cryptocurrency traded as low as $3,883 on March 13, 2020, during what was later known as “the COVID <a rel="noopener noreferrer nofollow" title="crash" href="https://thebittimes.com/tag/crash.html">crash</a>.” Exactly four years later, on March 13, 2024, Bitcoin is trading at $73,227. Nearly $70,000 higher than what it did at the <a rel="noopener noreferrer nofollow" title="crash" href="https://thebittimes.com/tag/crash.html">crash</a>, for nearly 1,750% gains.</p>
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   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="661" src="https://cdn.thebittimes.com/images/2024/03/13/e9311661fca3c96ff830a0001cb1ec2e.webp" alt class="wp-image-160746" srcset="https://cdn.thebittimes.com/images/2024/03/13/e9311661fca3c96ff830a0001cb1ec2e.webp 1024w, https://cdn.thebittimes.com/images/2024/03/13/e9311661fca3c96ff830a0001cb1ec2e.webp 300w, https://cdn.thebittimes.com/images/2024/03/13/e9311661fca3c96ff830a0001cb1ec2e.webp 768w, https://cdn.thebittimes.com/images/2024/03/13/e9311661fca3c96ff830a0001cb1ec2e.webp 1536w, https://cdn.thebittimes.com/images/2024/03/13/e9311661fca3c96ff830a0001cb1ec2e.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
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   BTC/USD weekly chart. Source: <em>TradingView</em> (Finbold)
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 <h2 class="wp-block-heading" id="h-bitcoin-price-<a rel=" dofollow title="Category Analysis" href="https://thebittimes.com/analysis.html" rel="noopener noreferrer nofollow">Analysis-in-the-4-year-cycle"&gt;Bitcoin price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> in the 4-year cycle</h2>
 <p class="paragraph">Looking at Bitcoin’s 4-year, also known as the halving cycle, provides valuable insights about past and future performance.</p>
 <p class="paragraph">In particular, the 2020 <a rel="noopener noreferrer nofollow" title="crash" href="https://thebittimes.com/tag/crash.html">crash</a> happened two months before the year’s block subsidy halving, on May 11. Bitcoin miners expect the halving for April 21 this time, meaning we are only one month before the event.</p>
 <p class="paragraph">Therefore, if we take the halving as our milestone, Bitcoin was already recovering from March’s <a rel="noopener noreferrer nofollow" title="crash" href="https://thebittimes.com/tag/crash.html">crash</a> at this point in the past.</p>
 <p class="paragraph">However, the cryptocurrency landscape, the macroeconomics, and even BTC price action are all fairly different from four years ago.&nbsp;</p>
 <h2 class="wp-block-heading" id="h-from-2020-to-2024-what-changed-in-four-years">From 2020 to 2024: What changed in four years?</h2>
 <p class="paragraph">Currently, there is more competition among solid cryptocurrencies, and the world’s economy is balancing high interest rates and inflation issues inherited from the COVID-19 crash.</p>
 <p class="paragraph">Moreover, technical indicators on Bitcoin’s price chart show how different this halving cycle is from the previous ones. The weekly Relative Strength Index (RSI) has been above the overbought line since last year, which did not happen in 2020.</p>
 <p class="paragraph">Previously, during the intermediate bull market stage, the RSI only crossed the overbought zone in late 2020, months after the halving. Similarly, Bitcoin only broke its predecessor’s all-time high in late 2020.</p>
 <p class="paragraph">In summary, the maiden cryptocurrency has performed remarkably in the past four years. Such an accomplishment makes BTC one of the best-performing assets in the world and a strong store of value.</p>
 <p class="paragraph">Nevertheless, insights from the previous cycle suggest that things may be different this time, and the market should avoid using past performance as guidance for what is to come. The crypto market is highly unpredictable, requiring cryptocurrency investors to constantly revisit their strategies and theses.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-is-up-70k-from-march-2020-crash-tbt82430.html">https://thebittimes.com/bitcoin-is-up-70k-from-march-2020-crash-tbt82430.html</a></p>

Bitcoin is up $70k from March 2020 crash

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