According to the source, BTC traded near 320 dollars on November 22, 2015, based on BTC-USD historical data, source: Yahoo Finance. That date came ahead of the second Bitcoin halving on July 9, 2016, which cut block rewards from 25 BTC to 12.5 BTC, source: Bitcoin.org. From late 2015 into the next cycle peak, BTC rose from roughly 320 dollars to an all-time high near 19,700 dollars in December 2017, highlighting multi-thousand-percent cycle returns, source: Yahoo Finance. Traders often reference these halving-cycle baselines and long-term trend tools such as the 200-week moving average to contextualize entries and risk, based on historical BTC cycle behavior, source: LookIntoBitcoin.