• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Bitcoin price repeats 2020 bullish fractal

Bitcoin price repeats 2020 bullish fractal

user avatar

by Liza Tanasova

2 years ago


Bitcoin's growth potential is not yet exhausted, and if the fractal on the chart continues its development, the cryptocurrency can show significant growth. Famous trader Alan Tardigrade found a remarkable similarity between the current state of bitcoin and its behavior four years ago. 

Bitcoin is "repeating" the uptrend after the COVID-19 pandemic, and although it is trying to overcome key resistance on the long-term chart, its price movement is following the previous pattern. Analyzing the fractal chart from late 2019 to mid-2021, Tardigrade has highlighted a bull market that is currently generating significant profits. This is a continuation of the upside pattern that started from the low at the end of 2022. And even the slight dip this week indicates similarities to previous events on the way to bitcoin's all-time high of $69,000. Thus, bitcoin is retracing the steps of past years and continues to move in line with analysts' expectations.

Another long-term theory sees 2019 as the launching pad for a much broader "bull market cycle" - with a target BTC price of up to $400,000. Bitcoin, according to Tardigrade, is now in a phase of "renewed optimism" after setting a "bear trap" at the 2022 lows.

Last week, another prominent commentator, Nunya Bizniz, suggested that bitcoin could repeat its 2020 success.  Meanwhile, further analysis raises the question of how long it might take for the price of BTC to reach a new all-time high. For each cycle, the pair took four weeks longer to go from a long-term low to a new peak. Hence, the next period would be 27 months. This means that the deadline to reach a new all-time high is February 2025.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Algorand (ALGO) Aiming for $0.50: Current Trend Analysis

chest

Algorand (ALGO) price changes after a long decline. Current analysis indicates bullish trends and potential support levels.

user avatarGiorgi Kostiuk

Explore Potential Altcoins: BlockDAG, Chainlink, XRP, and Cardano

chest

Overview of BlockDAG, Chainlink, XRP, and Cardano, their features and relevance in the market.

user avatarGiorgi Kostiuk

WLFI Token Prepares for Trading with $16 Billion Market Valuation

chest

The WLFI token, tied to a DeFi initiative, is set to debut on exchanges with a valuation of $16 billion. Negotiations for exchange listings are ongoing.

user avatarGiorgi Kostiuk

Latest News on Pi Network, Binance Coin, and BlockDAG in the Crypto Space

chest

An overview of the current state of Pi Network, Binance Coin, and BlockDAG in the cryptocurrency market.

user avatarGiorgi Kostiuk

Crypto News: BlockDAG, Mantle, and Ethereum Show Growth

chest

BlockDAG partners with Seattle Seawolves, while price predictions for Mantle and Ethereum turn positive.

user avatarGiorgi Kostiuk

BlockDAG Launches with 7-Day Access Window, VeChain Stays Flat, Pi Coin Drifts

chest

BlockDAG offers unique early access to coins upon launch as VeChain and Pi Coin stabilize at their levels.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.