History Predicts Bitcoin 400% Surge – Here’s Why!

A Look Back at Bitcoin’s Historical Surges

The Early Boom: 2013

From the chart containing the quarterly price chart of Bitcoin starting from the year 2010, it is clear that sharp price swings normally occur after a period of congestion. There were some fluctuations, but certain stability came into operation during some part of 2012; after that, at the start of 2013, its value rocketed, moving from around $16 to $739 in the course of the quarters alone.

Consolidation and Spike

To compare the data of the initial period (before the COVID 19 pandemic) with the data after 2017 the following calculations were made:
That similar pattern repeated itself in 2015 and 2017 when the consolidation was around $230 and then went up to almost $20,000 towards the end of 2017. This time also showed that Bitcoin can consolidate and wait, before it will grow to higher levels.

Recent Trends: from 2020/2021

Subsequent to reaching highs of over $60,000 early this year, Bitcoin hovered around $10,000 at the end of 2020. For instance, as we watch this Bitcoin currently trading at $58,000 after what would be regarded as another phase of consolidation, previous scenarios suggest the likely breakout.

A Look Back at Bitcoin’s Historical Surges, Bitcoin 400% Surge ahead

Current Market Indicators

Analyzing the Daily Chart

Expanding on the last several months, the second kind of chart provides a day by day view of Bitcoin’s price. The moving average formula used shown on this chart include the EMA 50, EMA 100 and EMA 200. Recently, the price of Bitcoin made a low where it found some support at the 200 EMA and this could indicate that at the 200 EMA a bottom was forming.

Bullish Signals

Since Bitcoin is trading above the 100 EMA, the bounce off the indicator gives a bullish signal. The daily chart also explains the fact that the volume declined in the downtrend and picked up while the price started to increase. This volume pattern often indicates the beginning of a new bullish phase and the end of the bears’ phase.

Here is what people want to know, What Does the Future Hold?

Studying the two charts analyzing their performed quarter changes ad current daily movement show that, once again, Bitcoin is set for another massive movement. Historically, there have been periods where Bitcoin price experiences a massive rise; thus, it is possible to anticipate that it may happen in the nearest future.

Disclaimer: The information provided by CryptopianNews is for educational and informational purposes only. It should not be considered financial or investment advice. Cryptocurrency markets are highly volatile and speculative, and investing in them carries inherent risks. Readers are advised to conduct their own research and consult with a qualified financial advisor before making any investment decisions.

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