Currently, Bitcoin's price has reached $88.75K, just one step away from the all-time high of $126.08K. At this moment, reviewing the four previous bull market cycles and understanding their patterns is crucial for grasping future investment opportunities.
From the Chicago Bank Crisis to the 2013 First Surge
Bitcoin's first real bull run occurred in 2013. It skyrocketed from $145 to $1,200, a 730% increase. During this period, the Cyprus banking crisis prompted investors to seek alternative assets, and Bitcoin, as a decentralized store of value, entered the public eye for the first time.
However, the 2014 Mt. Gox exchange bankruptcy dealt a cold shower to the market, causing BTC to fall below $300. Although this crisis dampened confidence, it also exposed infrastructure vulnerabilities, laying the groundwork for subsequent institutional development.