Is Bitcoin Recycling its Way to a New High?

Rest Up and GO Bitcoin's Price Mirrors 2020 Bull Run Fractal

Bitcoin price mimics 2020 bull run fractal Take a break and GO!

Bitcoin (BTC) traders, do not panic!. Even after experiencing its biggest one-day drop of 2023, there is still hope on the horizon. According to a chart fractal shared by the popular trader Alan Tardigrade on X (formerly Twitter), Bitcoin is following a pattern strikingly similar to its movements four years ago. It seems like time travel is not just a concept for sci-fi movies anymore, as Bitcoin appears to be recycling its way to success.

Tardigrade aptly compared Bitcoin’s current state to a “business as usual” scenario. Despite struggling to break through key long-term resistance, BTC’s price action is surprisingly reminiscent of the post-COVID uptrend. The chart fractal, which covers the period from late 2019 to mid-2021, displays a blueprint of a Bitcoin bull market that seems to be making a comeback.

Since the recent low in late 2022, Bitcoin’s price recovery has followed the same pattern as the 2020-21 bull run. Even this week’s drop in price can be seen as a reflection of a similar event on the path towards Bitcoin’s all-time high of $69,000. Tardigrade playfully advised traders to take some rest and “GO,” implying that there is no need to worry about the temporary setback.

Tardigrade is renowned for his positive outlook on Bitcoin’s price metamorphosis. His long-term theory suggests that 2019 served as the launchpad for a much grander “bull market cycle” with a BTC price target of up to $400,000. He argues that Bitcoin is currently in a stage of “renewed optimism” after successfully entangling the bears in a trap at the 2022 lows. So, don’t lose faith just yet!

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Fractals from past price cycles seem to have become a common occurrence in the crypto landscape. Nunya Bizniz, another popular social media commentator on X, has also suggested that Bitcoin may be repeating its progress from 2020. Although this prediction appeared prior to the recent drop on December 11th, experts believe that there is still sufficient time for the fractal to unfold.

Analyzing the longevity of BTC’s price cycles, experts have observed that each cycle takes four weeks longer from the long-term low to the new peak. This pattern suggests a deadline for reaching a new all-time high in February 2025. So, mark your calendars, because if history repeats itself, Bitcoin might be breaking records again in just a few years.

Now, to our beloved digital asset investors, take a moment to relax and trust the process. Remember, Bitcoin’s journey is full of twists and turns, and temporary setbacks are just another chapter in its story. So, have patience and enjoy the ride. Who knows, maybe Bitcoin will surprise us all once again with its meteoric rise to a new all-time high!

Feel free to share your thoughts on Bitcoin’s recycling adventure in the comments below. Let’s embrace the uncertainty and continue supporting the world’s most sensational digital asset. Keep hodling, my friends!

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