The manager also highlights that, unlike other cycles, the market has reacted more maturely. Even after strong drops at the beginning of the year, the price of Bitcoin has remained at higher levels than before the elections in the US, which shows resilience. There were no major waves of panic or mass selling, as in the past.
Another factor that reinforces the recovery thesis is the proximity of Bitcoin to hitting a new record of appreciation against the Nasdaq index, which includes the largest technology companies in the US. The ratio between the two is at 4.96, close to the record of 5.08, reached when BTC hit $109,000 in January.
