Bitcoin's Bull Market Blueprint Predicts New High by 2025, Suggests Trader Alan Tardigrade
Summary:
Following the significant one-day drop of Bitcoin (BTC) in 2023, trader Alan Tardigrade suggests there's no cause for concern, drawing parallels between the cryptocurrency's current state and its trajectory four years prior. Tardigrade proposes that Bitcoin is mimicking a similar bull market cycle as seen in 2019-2021, potentially leading to a price target of up to $400,000. Using patterns from past cycles, calculations suggest that Bitcoin could hit a new all-time high in February 2025. However, readers are advised to conduct their own research, as every financial venture involves risk.
There's no cause for traders to be apprehensive about Bitcoin (BTC), notwithstanding its hefty one-day plummet of 2023, if particular chart patterns come to pass. In a recent post on the social media platform X (formerly Twitter), noted trader Alan Tardigrade drew an intriguing parallel between Bitcoin's present trajectory and its track from four years previous. Despite Bitcoin's current difficulty surpassing significant enduring resistance, comparisons suggest that it's no more than standard operations for BTC price trends.
Tardigrade utilized a chart pattern from the end of 2019 up until mid-2021 to underline a typical Bitcoin bull market strategy, a tactic that appears to be making a noteworthy return. Bitcoin's price resurgence since its multi-year low in late 2022 has been marching in lockstep with the 2020-21 model. This week's market downturn mirrors a similar occurrence en route to Bitcoin's record-breaking high of $69,000.
Tardigrade, known for his bullish outlook on Bitcoin price transformations, suggested that the cryptocurrency is mimicking its 2019-2021 movements. Tardigrade also proposed another long-term theory, with 2019 as the stepping stone for a vastly extended "bull market cycle", potentially propelling BTC to an impressive $400,000. He posited that Bitcoin is currently in a phase of "renewed optimism", following the laying of a "bear trap" in the dip of 2022.
The prediction game using patterns from earlier price cycles is becoming a norm within today's crypto environment. Market observer Nunya Bizniz, popular on social media forum X, inferred that Bitcoin could be copying its 2020 progress. Despite this forecast being made prior to the December 11 slump, there's still room for the pattern to progress. Future calculations are now trying to decipher the time it might take for BTC to set a new record high. Each ascending cycle has taken four weeks longer, suggesting a 27-month prediction next. This timeframe suggests that Bitcoin could hit a new peak in February 2025.
This content does not provide investment guidance or suggestions. All financial undertakings entail inherent risks and it is recommended that readers carry out their personal research before making any decisions.
Published At
12/12/2023 5:26:00 PM
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