According to the source, BTC is up 7.6x since 2020, highlighting multi-year strength that traders contextualize with cycle data. Source: the source. For reference, BTC opened 2020 near $7,200, closed 2020 around $28,900, and set an all-time high near $73,737 in March 2024. Source: CoinMarketCap historical data. The 2022 bear market low was near $15,500 in November 2022, a drawdown of roughly 77% from the November 2021 peak near $69,000. Source: CoinMarketCap historical data. Bitcoin’s April 20, 2024 halving reduced the block subsidy from 6.25 BTC to 3.125 BTC, tightening new issuance relative to prior cycles. Source: Bitcoin.org and Bitcoin Wiki. Taken together, the data show strong long-run appreciation alongside deep interim drawdowns, a profile traders use to frame position sizing and risk across cycles. Source: CoinMarketCap historical data and Bitcoin.org.