2020 has been a great year for Bitcoin, with its rally from its late-2019 lows of $6,400 altering the cryptocurrency\u2019s market structure to greatly favor bulls, leading many investors to believe that these lows will mark a long-term bottom for BTC.<\/p>\n
This optimistic belief is not unwarranted, however, as multiple technical and fundamental factors also seem to suggest that the crypto will soon see a massive extension of its recent uptrend.<\/p>\n
One analyst believes that the rally seen over the past few weeks is the early stages of Bitcoin\u2019s next parabolic market cycle, which could mean that fresh all-time highs are imminent.<\/p>\n
One factor that could help incubate some serious upwards momentum<\/a> is the fact that Bitcoin\u2019s upcoming mining rewards halving event is a historically bullish catalyst.<\/p>\n It is important to note that although the technical impact of the inflation reduction that results from this event is fundamentally bullish, analysts are split on whether or not its short-term impact will catalyze any momentum.<\/p>\n Analysts do believe, however, that the investor hype from this event will help lead it to clock some notable gains in the weeks and months leading up to it.<\/p>\n Satoshi Flipper, a popular cryptocurrency<\/a> analyst on Twitter, explained in a tweet to his 40k followers that the Bitcoin bottom is in, and that he expects that BTC will slowly grind up to $15,000 prior to the halving, which is slated to occur in May of this year.<\/p>\n \u201cI’m predicting $BTC to slowly grind to 15k in the run up to the halving. Only 3 months away. Bottom is in. The increase is demand is pretty clear. And the demand is too strong for any deep retraces during this halving run up period. IMO,\u201d he bullishly noted.<\/p><\/blockquote>\n I'm predicting $BTC<\/a> to slowly grind to 15k in the run up to the halving. Only 3 months away.<\/p>\n Bottom is in. The increase is demand is pretty clear. And the demand is too strong for any deep retaces during this halving run up period. IMO<\/p>\n — Satoshi Flipper (@SatoshiFlipper) January 22, 2020<\/a><\/p><\/blockquote>\n\n