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Bitcoin mirrors 2017 cycle – Why HODLing might still be your best strategy
With Bitcoin’s price action and market structure aligning with previous bull cycles, it appears that HODLing (holding) might still be the most effective long-term strategy for investors.
The cryptocurrency’s current trajectory closely resembles its March 2017 cycle, where BTC was only nine months away from reaching its all-time high. If history repeats itself, Bitcoin could enter its next “extreme greed” phase by Q4 2025, signaling the final leg of its bull run.
Moreover, a recent analysis highlighted that Bitcoin has returned to critically low RSI Bollinger Band % levels, suggesting it is deeply oversold within its volatility range. This pattern has been observed in similar scenarios such as 2013, 2016 and 2020, preceding significant rebounds and all-time highs. Notably, the current scenario mirrors the 2017 cycle when Bitcoin bottomed at around $1,000 before surging a staggering 1,500% to reach $19,086 by Q4.
As of now, however, Bitcoin’s price action remains uncertain with institutional outflows accelerating and long-term holder supply dropping to pre-election lows – indicators of short-term weakness. Despite this volatility, historical cycle patterns remain intact.
The possibility of HODLing being the best strategy for investors has sparked debate among crypto enthusiasts. While some proponents argue that selling now could result in significant returns, others believe that such an approach could lead to missed opportunities and potentially higher gains if Bitcoin continues its upward trajectory.
Despite these opposing views, it appears that the cryptocurrency’s recent behavior is mirroring past patterns, suggesting a more cautious approach might be necessary for investors.
Source: https://ambcrypto.com/bitcoin-mirrors-2017-cycle-why-hodling-might-still-be-your-best-strategy/
