Bitcoin ‘heavy breakout’ fractal suggests BTC price can hit $250K–$350K in 2021 #btc | crypto news
0The analogy appeared in anticipation that Bitcoin could post a 2017-like bull run, in which the price rose by more than 1,900%.
Bitcoin (BTC) has the potential to push its prices to between $250,000 and $350,000 by the end of 2021, a long-standing fractal suggests.
First spotted by pseudonymous analyst Bit Harington, the bullish setup drew its inspirations from Bitcoin’s spectacular bull runs every time after halvings, which is when the miner block reward gets cut in half. Analysts perceive the halving as a bullish event, which reduced the supply of newly mined BTC.
Harington reminded that Bitcoin’s prices surged by more than 600% after the first two halving events in 2012 and 2016 when measured from a so-called resistance/support (R/S) line, as shown in the chart below.
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source : https://cointelegraph.com/news/bitcoin-heavy-breakout-fractal-suggests-btc-price-can-hit-250-350k-in-2021
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