• 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

Analysis of Meme Coins in 2025: Shiba Inu, Ponke, and New Player MoonBull

chest

Overview of the current state of meme coins, their trends, and future projects including Shiba Inu, Ponke, and MoonBull.

user avatarGiorgi Kostiuk

Ethereum Introduces EIP-7983 with Gas Limit

chest

Vitalik Buterin and Toni Wahrstätter propose a gas limit of 16.77 million for Ethereum transactions.

user avatarGiorgi Kostiuk

Olaxbt Secures $3.38 Million for AI Trading Development

chest

Olaxbt secured $3.38 million to enhance its AI trading platform, signaling a new trend in the digital asset trading market.

user avatarGiorgi Kostiuk

1,000 BTC Transfer by Abraxas Capital: Market Implications

chest

Abraxas Capital transfers 1,000 BTC to Kraken, potentially affecting the market and increasing volatility.

user avatarGiorgi Kostiuk

Bitcoin Records Historic Growth: Economic Analysis

chest

Bitcoin's price surged to a record $111,486 amidst favorable economic conditions. An analysis of the factors behind the rise.

user avatarGiorgi Kostiuk

Mutuum Finance (MUTM) Attracts Investor Attention Amid Solana's Challenges

chest

Mutuum Finance (MUTM) demonstrates rising investor interest as Solana faces decline, and the project launches a new stablecoin.

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.