#noticiascripto 🚨💥The CEO of the cryptocurrency research platform Real Vision, Raoul Pal, has said that the current cryptocurrency cycle is very similar to that witnessed in 2017. According to Pal, Bitcoin showed a consistent upward trend throughout the year before skyrocketing towards the end of the year.

The CEO of Real Vision gave his verdict through a video, where he said: "It is unsettlingly similar to 2017." Pal also mentioned that he is starting to see a longer cryptocurrency cycle, forecasting that it might take some time this time given the economic cycle score. The economic cycle score, according to Pal, is a macroeconomic model he uses to track the position of the global economy in the broader cycle. He added that it is still below 50 and generally "takes time to rise."

Raoul Pal sees similarities in the current cryptocurrency market cycle and that of 2017.

According to data from CoinMarketCap, Bitcoin started trading at around $1,044 at the beginning of 2017, before rising to about $2,187 by May 31st. The leading digital asset closed the year at $14,156, representing a massive increase of 1,255% from the price at the beginning of the year. While Pal predicts the same movement, he acknowledges that a weaker US dollar could indicate a slower cryptocurrency cycle, meaning it will take time before it reaches its peak.