{"id":608906,"date":"2024-05-20T21:00:10","date_gmt":"2024-05-20T21:00:10","guid":{"rendered":"https:\/\/uniquehot.com\/?p=608906"},"modified":"2024-06-11T06:59:26","modified_gmt":"2024-06-11T06:59:26","slug":"bitcoin-price-historical-1200-surge","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-historical-1200-surge\/","title":{"rendered":"Bitcoin Price Mirrors Historical Pattern That Led To 1,200% Surge, Will History Repeat Itself?"},"content":{"rendered":"

Crypto analyst TechDev has provided insights into the <\/span>Bitcoin (BTC) future trajectory<\/span><\/a>. The analyst hinted that the <\/span>flagship crypto<\/span><\/a> was currently mirroring its price action in 2017 and could soon make a parabolic rise like it did back then.\u00a0<\/span><\/p>\n

History Could Repeat Itself\u00a0<\/span><\/h2>\n

TechDev <\/span>shared<\/span><\/a> a chart on his X (formerly Twitter) platform with the caption, \u201cThe more things change, the more they stay the same.\u201d The chart showed that Bitcoin\u2019s current price action was mirroring that of the 2017 bull run when it recorded a price gain of 1,200% on its way to a previous high of $20,000.\u00a0<\/span><\/p>\n

Related Reading: This Crypto Trader Just Sold All His Bitcoin For Altcoins Like Cardano And XRP, Here\u2019s Why<\/a><\/div>\n
\"Bitcoin\"
Source: X<\/figcaption><\/figure>\n

Interestingly, just like in 2017, when Bitcoin\u2019s price bottomed following the Bitfinex crash, the crypto token also looked to have bottomed in this market cycle when <\/span>FTX, another crypto exchange, collapsed<\/span><\/a>. Back then, Bitcoin consolidated for some time before enjoying a parabolic rally, which made it reach $20,000 in 2018.\u00a0<\/span><\/p>\n

As TechDev suggested, history could repeat itself with Bitcoin consolidating ahead of a move that could send it to as <\/span>high as $100,000<\/span><\/a>. From the chart the crypto analyst shared, one could see that Bitcoin has consolidated longer in this market cycle than it did in 2017. However, <\/span>crypto analyst Rekt Capital<\/span><\/a> hinted that this longer period of consolidation was necessary.\u00a0<\/span><\/p>\n

He <\/span>mentioned<\/span><\/a> that Bitcoin was accelerating by almost 200 days in this market cycle and added that consolidating for longer will help it resynchronize with <\/span>previous bull cycles<\/span><\/a>. This strategic consolidation is a reassuring sign of Bitcoin’s stability and potential for growth. Meanwhile, in a recent <\/span>X post<\/span><\/a>, he revealed that Bitcoin was already attempting to perform the \u201cpost Bull Flag breakout retest,\u201d which could secure a trend continuation to the upside.\u00a0<\/span><\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

In a subsequent <\/span>X post<\/span><\/a>, Rekt Capital shared a chart showing that a breakout from the $66,000 range could kickstart the continuation of <\/span>Bitcoin\u2019s bull run<\/span><\/a>, which could well send its price above $100,000.\u00a0<\/span><\/p>\n

\u201cOptimal Targets\u201d For Bitcoin In This Market Cycle<\/h2>\n

Crypto analyst Mikybull Crypto<\/span><\/a> mentioned in an <\/span>X post<\/span><\/a> that the optimal targets for Bitcoin in this bull run should be between $138,000 and $150,000. Interestingly, he made this statement while revealing that the <\/span>crypto\u2019s current price action<\/span><\/a> is mirroring that of 2017. The crypto analyst\u2019s prediction suggests that Bitcoin enjoying a 1,200% price gain (like in 2017) is unlikely.\u00a0<\/span><\/p>\n

Related Reading: Cardano Whales Return To The Table, Increase Massive Holdings By 10%<\/a><\/div>\n

However, it is worth noting that other <\/span>crypto analysts like PlanB<\/span><\/a> have offered more bullish predictions for Bitcoin, which indicates that the flagship crypto could still see a 10x increase from its current price level. Specifically, PlanB <\/span>predicted<\/span><\/a> that Bitcoin could rise to as high as $1 million in 2025, which would be the market top for the crypto token.\u00a0<\/span><\/p>\n

At the time of writing, Bitcoin is trading at around $67,000, down in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price at $67,100 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created using Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto analyst TechDev has provided insights into the Bitcoin (BTC) future trajectory. The analyst hinted that the flagship crypto was currently mirroring its price action in 2017 and could soon make a parabolic rise like it did back then.\u00a0 History Could Repeat Itself\u00a0 TechDev shared a chart on his X (formerly Twitter) platform with the caption, \u201cThe more things change, the more they stay the same.\u201d The chart showed that Bitcoin\u2019s current price action was mirroring that of the 2017 bull run when it recorded a price gain of 1,200% on its way to a previous high of $20,000.\u00a0 Related Reading: This Crypto Trader Just Sold All His Bitcoin For Altcoins Like Cardano And XRP, Here\u2019s Why Interestingly, just like in 2017, when Bitcoin\u2019s price bottomed following the Bitfinex crash, the crypto token also looked to have bottomed in this market cycle when FTX, another crypto exchange, collapsed. Back then, Bitcoin consolidated for some time before enjoying a parabolic rally, which made it reach $20,000 in 2018.\u00a0 As TechDev suggested, history could repeat itself with Bitcoin consolidating ahead of a move that could send it to as high as $100,000. From the chart the crypto analyst shared, one could see that Bitcoin has consolidated longer in this market cycle than it did in 2017. However, crypto analyst Rekt Capital hinted that this longer period of consolidation was necessary.\u00a0 He mentioned that Bitcoin was accelerating by almost 200 days in this market cycle and added that consolidating for longer will help it resynchronize with previous bull cycles. This strategic consolidation is a reassuring sign of Bitcoin’s stability and potential for growth. Meanwhile, in a recent X post, he revealed that Bitcoin was already attempting to perform the \u201cpost Bull Flag breakout retest,\u201d which could secure a trend continuation to the upside.\u00a0 In a subsequent X post, Rekt Capital shared a chart showing that a breakout from the $66,000 range could kickstart the continuation of Bitcoin\u2019s bull run, which could well send its price above $100,000.\u00a0 \u201cOptimal Targets\u201d For Bitcoin In This Market Cycle Crypto analyst Mikybull Crypto mentioned in an X post that the optimal targets for Bitcoin in this bull run should be between $138,000 and $150,000. Interestingly, he made this statement while revealing that the crypto\u2019s current price action is mirroring that of 2017. The crypto analyst\u2019s prediction suggests that Bitcoin enjoying a 1,200% price gain (like in 2017) is unlikely.\u00a0 Related Reading: Cardano Whales Return To The Table, Increase Massive Holdings By 10% However, it is worth noting that other crypto analysts like PlanB have offered more bullish predictions for Bitcoin, which indicates that the flagship crypto could still see a 10x increase from its current price level. Specifically, PlanB predicted that Bitcoin could rise to as high as $1 million in 2025, which would be the market top for the crypto token.\u00a0 At the time of writing, Bitcoin is trading at around $67,000, down in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image created using Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":608928,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-608906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nBitcoin Price Mirrors Historical Pattern That Led To 1,200% Surge, Will History Repeat Itself?<\/title>\n<meta name=\"description\" content=\"Crypto analyst TechDev has provided insights into the Bitcoin (BTC) future trajectory, which is currently mirroring its price action in 2017.\" \/>\n<meta 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Mirrors Historical Pattern That Led To 1,200% Surge, Will History Repeat Itself?","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-historical-1200-surge\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-historical-1200-surge\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Bitcoin-price-surge.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Bitcoin-price-surge.jpeg?fit=1792%2C1024"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto analyst","crypto news"],"dateCreated":"2024-05-20T21:00:10Z","datePublished":"2024-05-20T21:00:10Z","dateModified":"2024-06-11T06:59:26Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Mirrors Historical Pattern That Led To 1,200% Surge, Will History Repeat Itself?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-historical-1200-surge\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-historical-1200-surge\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin-price-surge.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin-price-surge.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-05-20T21:00:10Z\",\"datePublished\":\"2024-05-20T21:00:10Z\",\"dateModified\":\"2024-06-11T06:59:26Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Bitcoin-price-surge.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/608906"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=608906"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/608906\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/608928"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=608906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=608906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=608906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}