Executive Summary
The Story So Far
Why This Matters
Who Thinks What?
Bitcoin (BTC) could potentially surge past the $200,000 mark, with some analyses suggesting a target of $220,000, if its current price trajectory continues to mirror the patterns observed during the 2017 bull cycle. This projection, put forth by crypto analyst Merlijn The Trader, suggests a significant upside for the digital asset within the next three months, extending into 2026, despite Bitcoin having already reached new all-time highs in the current cycle.
Bitcoin Price Mirroring 2017 Cycle Moves
Crypto analyst Merlijn The Trader recently highlighted striking similarities between Bitcoin’s current market performance and its behavior in 2017, according to a post on X (formerly Twitter). By comparing historical charts, the analyst identified distinct phases that appear to be repeating.
The first parallel noted is the conclusion of the bear market, marked by a “red box” in the analyst’s charts. This period concluded with an initial breakout after some volatile price action, followed by a brief retracement before the next phase began.
Following the bear market’s end, the “blue box” represents a significant accumulation phase. During this time, investors reportedly “loaded up their bags” in anticipation of an upward price movement, a period that typically lasted several months before a breakout occurred.
The third and most crucial parallel is the “green box,” which the analyst describes as the level that “launched portfolios” in 2017. Historically, after this phase, Bitcoin’s price rapidly more than doubled, and the current trend is positioned within this same “green box,” implying substantial bullish potential.
How High Can BTC Go From Here?
Based on the observed mirroring of the 2017 trend, the analyst suggests that Bitcoin is likely to continue its upward trajectory in a similar fashion. If the price doubles from its current position, as it did in the comparable 2017 period, Bitcoin could comfortably cross the $200,000 threshold.
Merlijn The Trader’s chart specifically points towards a target of $220,000, anticipating some minor price dips along the way. These retracements are expected to be quickly absorbed by buying pressure, maintaining the overall upward momentum.
The timeframe for this projected surge also aligns with the 2017 cycle, with the analyst indicating that this rally could unfold over the next three months, potentially extending into early 2026.
In summary, while Bitcoin has already achieved new all-time highs, crypto analyst Merlijn The Trader’s comparison to the 2017 bull cycle suggests a much larger rally could still be on the horizon. The identified patterns, particularly the current positioning within the “green box” phase, indicate a potential surge towards the $220,000 mark in the coming months, provided historical trends continue to repeat.
