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 BITCOIN PRICE

HISTORICAL ANALYSIS: BITCOIN LOOKS EXTREMELY SIMILAR TO THE START OF THE $20K RALLY

NICK CHONG | SEP 13, 2020 | 00:36

• Bitcoin has recently undergone a strong retracement due to a confluence of factors.

• The cryptocurrency is around 20% below its year-to-date high at $12,500.

• Some fear that this retracement is the start of a return to a full-blow bear trend.

• Fortunately for bulls, there is evidence suggesting this is not the case.

• One crypto trader noted that Bitcoin’s three-week chart looks similar to how it did at the start of the previous macro bull run.

• This last bull run, which took place from 2015 to 2017, took BTC from the hundreds to $20,000.

• This positive sentiment is in line with prominent Wall Street investors who think Bitcoin is on the verge of parabolic growth.