Bitcoin Fractal Shows Similarities to Previous Bull Market
If you’re concerned about Bitcoin’s recent drop, one chart fractal might ease your worries. Popular trader Alan Tardigrade recently shared a post on X (formerly Twitter) comparing Bitcoin’s current price action to four years ago. The chart shows uncanny similarities between the two periods, suggesting that it’s “business as usual” for BTC.
Bitcoin “Repeating” Post-COVID Uptrend
Tardigrade uploaded a chart fractal from late 2019 to mid-2021, highlighting a Bitcoin bull market blueprint that is now repeating itself. Since the recent multi-year low in late 2022, Bitcoin’s price recovery has followed the same pattern as the previous cycle. Even the recent drop mirrors a similar event on the way to Bitcoin’s all-time high of $69,000.
A Positive Outlook for Bitcoin
Tardigrade is known for his positive views on Bitcoin’s price movement. He believes that 2019 marked the beginning of a much broader bull market cycle, with a BTC price target of up to $400,000. According to him, Bitcoin is currently in a stage of “renewed optimism” after establishing a “bear trap” at the 2022 lows.
New All-Time High Expected in Early 2025?
Fractals from past price cycles are becoming increasingly common in the crypto landscape. Another commentator named Nunya Bizniz on X recently suggested that Bitcoin could be repeating its progress from 2020. Despite this prediction coming before the recent drop, there is still time for the fractal to play out.
Analysis indicates that each BTC price cycle takes four weeks longer from its long-term low to a new all-time high. Based on this pattern, the next cycle would take 27 months, potentially leading to a new all-time high in February 2025.
Hot Take: Bitcoin’s Future Looks Promising
Based on the fractal analysis and bullish predictions, Bitcoin’s future appears bright. The similarities between current price action and previous bull markets suggest that history may repeat itself. While there may be short-term fluctuations and drops, the overall trend seems positive. If the fractals continue to play out, Bitcoin could reach new heights in the coming years. So, despite recent volatility, it might be wise to hold on to your Bitcoin investments and stay optimistic about its long-term potential.
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