The candlestick price chart, which is shown below, tracks BTC on the monthly timeframe and compares three major cycle structures. Back in 2019, Bitcoin’s price entered a depressed DCA accumulation area after the 2017 peak around $19,000, which dragged the price down by more than 83%. That zone later preceded the run to the 2021 all-time high around $69,000.
The 2022 episode was shorter in duration but structurally identical. The FTX exchange collapse in November of that year produced a wave of forced selling, and Bitcoin fell to around $15,500 from its 2021 peak above $69,000.
However, BTC bulls eventually broke through the fear, and the best of accumulators were able to ride alongside an almost 600% rally above $100,000, and the cryptocurrency eventually rallied to a new high above $126,000 in October 2025.
Where Does Bitcoin Go From Here?
