It has really been a closer mirror to 14-15 than I think most people have expected.

But it's not surprising, given the fact that bitcoin has always moved in cycles, most likely dictated by the halving as a major turning point. As we approach the halving, there will likely be more bullish sentiment present within the market, and as a result we may see a recovery happen from the bottoms of the bear market.

I wouldn't get too excited to the point where I'm certain prices aren't going to go down further from this point, though, because there is every possibility that it could. Short term wise, volatility is unpredictable and even though a recovery will likely take place before next year, we could still see previous floors being tested before that occurs. I don't agree with the perma-bears with saying that BTC will go sub-$1000, though. That's just absurd given what we see with new institutional entrants to the market.