BTC Four-Year Cycle Series Update

The current indicator on the chart has risen to 0.892. In 2014, it took 87 days for the indicator to go from 0.892 to 1. In 2018, it took 93 days for the indicator to go from 0.892 to 1. In 2022, it took 100 days for the indicator to go from 0.892 to 1. Note: When the indicator reaches 1 (i.e., the black line crosses below the green line), it’s typically near the secondary bottom of the bear market. The black line represents the average purchase cost of on-chain investors holding $BTC for 0-10 years ($64,304). The green line represents the average purchase cost of on-chain investors holding $BTC for 6 months to 10 years ($57,351).