On-Chain Highlights
Definition: Bitcoin price movement since cycle low
Bitcoin prices have shown mixed performance over several cycles, making 2022 an important comparison point for assessing recovery trends.
In particular, the 2011-2015 cycle saw a sharp rise from the cycle bottom as prices increased dramatically during that period, while the 2015-2018 cycle reflected strong growth but ultimately settled below its peak, indicating long-term volatility within the market.
The ongoing 2022 cycle, shown in black in the chart below, shows a slower but steady recovery compared to previous cycles, compared to the more moderate price increases seen in the 2018-2022 cycle, shown in green, which indicates a general slowing of growth rates as the market becomes more mature.
Observing the relationship between these cycles suggests that while Bitcoin is still experiencing growth, overall market volatility may have gradually decreased in recent years as it has become more institutionalized.
