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Following
BTC 
ETH 
XRP The cryptocurrency market continues to rebound, with Bitcoin exceeding US$72,000.
The cryptocurrency market continued the rebound that started the previous day on August 20. Bitcoin (BTC) exceeded US$72,000 for the first time since June 1. Bitcoin has gained nearly 10% in the past 24 hours, and Ethereum (ETH) has gained more than 19%. The rise caused bears to suffer heavy losses. According to CoinGlass data, on August 19, the total liquidation of leveraged cryptocurrency positions was approximately US$2.97 billion, of which short positions were approximately US$2.73 billion.
This rally follows a difficult period for Bitcoin, and despite its recent price surge, it is still well below the all-time high of more than $126,000 set in October 2025.
Analysts believe that the Bitcoin cycle is repeating itself.
Well-known analyst Crypto Patel said on August 19 that Bitcoin is repeating patterns that have occurred in previous major market cycles. "Every cycle: smaller pullbacks, higher highs, same script." Patel wrote on platform X and pointed out that Bitcoin fell about 84% after peaking at $19666 in 2017 and 77% after reaching a high of $69,000 in 2021, and both declines eventually gave way to new historical records.
Patel predicts that the current cycle could eventually see a smaller pullback. He predicts that Bitcoin will fall 69% from its peak of $126,000 in 2025 to the $40,000 - 50,000 range. According to Patel, Bitcoin is currently in a bullish order block area-a technical term for an area where traders expect significant buying demand. He then predicted that based on this pattern, Bitcoin would have "1000% room to rise." "This model has never failed. Please save this message. You will thank me in the future." he commented.
A 1000% increase from the US$40,000 range to US$50,000 range mathematically means that Bitcoin will rise to the US$440,000 range to US$550,000 range, but Patel did not provide a specific price target or a statistical model to support this forecast. His argument is largely based on past cyclical patterns, which do not guarantee that Bitcoin will follow the same trajectory again.
As of press time, the transaction price of Bitcoin was US$71,463.93, Ether was US$2,270.74, and XRP was US$1.20.
