I'm always skeptical of echoing-history takes ("When Perfect Correlations Dissolve Into Dust"), and Bitcoin's 4-year cycles have always seemed suspect to me... what fundamental reason would there be for an asset to repeat behavior in such neat, well-aligned time periods?
Assets don't have path dependencies, or "memories." This seems very human, very numerology, very made-up.
Still, many of us see events in the world and interpret them as literally screaming for bitcoin... but somehow market prices, the best guess we have for the future (#875931, #908702), tells us uh-hu.
Here's BM Pro coming to our rescue:
It'll happen anytime now!!
History may not repeat itself, but it often rhymes. Bitcoin’s current cycle may not deliver 2017-style exponential gains, but the underlying market psychology remains strikingly similar. If Bitcoin resumes its correlation with the lagging 2017 cycle, the historical precedent suggests that Bitcoin could soon recover from the current correction, and a sharp upward move could follow.
Too much copium, anyone?
We shall find out.
Have a nice weekend, everyone
/J