Research shows: Since its inception in 2009, Bitcoin has experienced an upward trend for 3671 days.

A research report shows that since its creation in the "genesis block" on January 3, 2009, Bitcoin has experienced 3671 days (98.2%) of upward trend out of 3830 days.

The report was released on June 24, emphasizing that Bitcoin has entered its "stealth phase" of the rebooted bull market. Analysts cross-referenced Google Trends with price correlation in the charts, indicating that the market is clearly in the initial stage of the third stealth cycle.

The analysis also points out similarities in past history where the intersection of Bitcoin's "50-week moving average" with its price often marks the beginning of a bull market, pushing Bitcoin's price to new highs several months later.

In addition to technical indicators, Bitcoin's hash rate, daily active wallet addresses, and on-chain data are surpassing or nearing historical highs. The study claims that these indicator data all show a positive correlation with price performance.

Former Wall Street executive Tone Vays also pointed out four major reasons why the bull market is just beginning, including historical BTC market cycles, rising institutional interest, strengthening network fundamentals, and the devaluation of fiat currencies, all of which could drive Bitcoin to surpass its 2017 price.

Related Reading

• Bitcoin search index continues to rise in various states in the U.S.
• Former Wall Street executive Tone Vays: Bull market is just beginning

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