Since its inception in 2009, Bitcoin has experienced multiple intense price cycles. From a 730% increase in 2013 to a 1,900% surge in 2017, and then to a new high with a 132% rise in 2024, these numbers reflect not random fluctuations but patterned market cycles. Currently, Bitcoin is priced at $88.94K, with market sentiment at a balanced 50:50—Is this the beginning of a new bull market, or the last frenzy before reaching the peak?
The Essence of Bitcoin's Bull Market: The Clash of Scarcity and Sentiment Cycles
Each major Bitcoin rally follows a similar underlying logic: supply tightening caused by halving events combined with increased demand driven by institutional funding or policy changes.
After the 2012 halving, Bitcoin surged 5,200% within a year; following the 2016 halving, it increased by 315%; in 20