$BTC

According to Cointelegraph, the cryptocurrency market currently shows a pattern reminiscent of 2017, the year when Bitcoin experienced steady growth before a dramatic spike in December. Raoul Pal, CEO of the crypto research platform Real Vision, highlighted this similarity in a recent video. Pal predicts a longer crypto cycle this time, citing his macroeconomic model, the business cycle score, which remains below 50, indicating a gradual increase.

Bitcoin's performance in 2017 saw it start the year at around $1,044, reach $2,187 by the end of May, and close the year at $14,156, recording a significant increase of 1,255%, according to CoinMarketCap data. Pal speculates that the weakening US dollar suggests that the current crypto cycle may continue until the second quarter of 2026. The US Dollar Index (DXY) has decreased by 8.99% since January 1, currently standing at 98.77, according to TradingView data. The inverse correlation between Bitcoin and DXY makes Bitcoin more attractive both as a speculative investment and as an alternative currency when the dollar weakens.