Pantera Capital looks at Bitcoin’s current position in a recent newsletter and suggests that the crypto is entering a new bull cycle. So, what signaled the arrival of a seventh bull cycle for BTC?

According to Pantera Capital, over the long-term, Bitcoin has been in a secular uptrend of 2.3x annually over the past twelve years, on average. 

According to Pantera Capital, the decline from November 2021 to November 2022 was the median of the typical bear market. The last bear market was the only one to more than completely wipe out the previous bull market gains. In this case, giving back 136% of the previous rally. Pantera Capital states:

Pantera has been through ten years of bitcoin cycles and I’ve traded through 35 years of similar cycles.  I believe that blockchain assets have seen the lows and that we’re in the next bull market cycle – regardless of what happens in the interest-rate-sensitive asset classes.