Uncanny Similarities in Bitcoin Charts from 2020 and 2023
A crypto analyst has made an interesting discovery regarding two separate Bitcoin charts from 2020 and 2023. The charts exhibit a remarkably similar price trend, raising questions about what may happen if Bitcoin continues to follow this pattern.
Comparison of Bitcoin Charts
The comparison was first shared by the pseudonymous crypto analyst Crypto El Presidente on December 1. The analyst pointed out that the current market movements closely resemble those seen in 2020.
To illustrate this further, El Presidente compared the unmorphed and morphed versions of the trends from both years. The similarities between the two were striking, with dips and recoveries occurring at nearly identical angles.
Glaring Similarity in New Chart
In a subsequent post, the analyst presented another chart that highlighted an even more obvious similarity. This chart focused on the Bitcoin price movements from the last six months of each year. Both charts showed a similar pattern, starting with a low trail and then surging around August.
The dips occurred in September, followed by a recovery before another dip. By November, there was another recovery. While not exactly identical, these dips and recoveries share a clear resemblance that could continue into the future.
The recent dip below $41,000 is seen as a temporary setback. The chart suggests that there will be a recovery above $45,000 before another correction downward.
Predicting a Push Towards $50,000
The next significant upward movement indicated in the chart is a push toward $50,000. If this occurs, it would result in at least a 20% increase by 2024.
Furthermore, the similarity between the current trend and the 2020 surge suggests the possibility of another bull market. This means that Bitcoin could be heading into another period of significant growth.
Hot Take: Bitcoin’s Future Bull Run
Based on the uncanny similarities between the Bitcoin charts from 2020 and 2023, it is intriguing to consider what lies ahead for the cryptocurrency. The resemblance in price trends raises the possibility of a repeat of the 2020 bull run, with Bitcoin potentially experiencing substantial growth in the coming years. If the current pattern continues, we may see Bitcoin reaching new heights and surpassing previous price milestones. This serves as a reminder that history can often provide valuable insights into the future of cryptocurrencies.
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