Parallels to 2017 stem from similar retail FOMO, ETF anticipation, and parabolic altcoin runs. Veteran trader Raoul Pal notes ‘spookily similar’ patterns: Bitcoin dominance peaking before altseason, memecoin mania (like Dogecoin’s 2025 resurgence), and regulatory crackdowns preceding institutional waves. Technical charts show nearly identical RSI trajectories.
Key differences exist: 2025’s institutional participation (BlackRock, Fidelity) and real-world asset tokenization create more fundamental support. The 2017 cycle peaked with CME futures launching; today, spot ETF approvals could ignite the next leg up. Geopolitical triggers like the Iran strike add unpredictable volatility absent in 2017.
Cycle theorists warn that 2017’s 80% crash followed its top, urging caution. However, today’s deeper liquidity and Bitcoin’s halving-driven scarcity suggest potentially higher peaks—$330,000 by some models—before any comparable collapse.
