Bitcoin Price Could Hit $75K within Weeks Similar to 2013 Bull Run

2020-6-10 15:42

Coinspeaker
Bitcoin Price Could Hit $75K within Weeks Similar to 2013 Bull Run

A similar situation to what happened in 2013, when Bitcoin price hit its maximum of that period o time, is predicted to repeat this year in a matter of weeks. However, owing to certain economic infractions caused majorly by the COVID-19 pandemic, there are mixed feelings about the crypto price in 2020.

Timothy Peterson, Cane Island Alternative Advisors, took to Twitter on Sunday, 7th June, to upload a new Bitcoin price chart revealing similarities between what is to come and Bitcoin in 2013.

The 2020 #bitcoin recovery has tracked the 2013a recovery almost perfectly. Are we weeks away from $75,000? pic.twitter.com/3u3xjDMmgl

— Timothy Peterson (@nsquaredcrypto) June 7, 2020

Analyzing Bitcoin price from its $3,600 low it plunged to in March, the Cane Island advisor highlighted that the way it recovered is almost the same as to price action in 2013. This will only lead to an exact result of what occurred in 2013, he argued. In 2013, Bitcoin price hit $1,300, and a similar 700 percent Bull Run at today’s prices would give a target of $75,000. He summarized that 2020 Bitcoin recovery had followed the path of 2013 recovery perfectly.

Comparing Bitcoin 2013 Market to 2020

However, the predicted surge seems impossible, but then; the crypto is already showing strong signs that it is recovering from lows that it will never go back to.

Also, miner’s activity and similar data had repeated what happened in December 2018. Then, BTC came out of a bear market from $3,100. Comparing the BTC market in 2013 to now are entirely different things. In 2013, Mt. Gox was the only major exchange around imploding a massive price crash. It is even believed that the exchange was responsible for the $1,300.

Apart from Timothy Peterson’s prediction, some other analysts believe that BTC price will not be all rosy. Many analysts are even yet to agree about BTC breakout above $10,000 this year. For the crypto to surge unprecedentedly, it needs to consolidate and find support at $10,500, something which has eluded bulls since 2019.

At the reporting time Bitcoin (BTC) price is down by 0,79% at $9,662.

Bitcoin Price Could Hit $75K within Weeks Similar to 2013 Bull Run

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67837.04 (-0.04%)
Объем 24H $27.118b
Изменеия 24h: 0.11 %, 7d: -3.11 %
Cегодня L: $67324.36 - H: $68240.24
Капитализация $1336.715b Rank 1
Цена в час новости $ 9779.95 (593.63%)

similar bitcoin 2013 weeks price within could

Источник: coinspeaker.com

similar bitcoin → Результатов: 126


Фото:

Will Bitcoin’s Head and Shoulders Cause the Price to Drop to $1000?

During the week of November 17-24, the Bitcoin price decreased by 20 percent. Afterward, financial commentator Peter Schiff made a prediction that the Bitcoin price will fall to around $1000. A similar prediction was made by well-known Tradingview analyst @MagicpoopCannon, who stated that there is a possible head and shoulders (H&S) developing in the Bitcoin […] The post Will Bitcoin’s Head and Shoulders Cause the Price to Drop to $1000? appeared first on BeInCrypto.

2019-11-27 08:53


Bitcoin’s liquidity makes it similar to gold: OpenNode’s Nik Bhatia

While Bitcoin’s ability to dominate the financial system has been supported by the masses, the factors that will eventually speed up the shift towards Bitcoin adoption remain a mystery. Discussing this in detail, OpenNode and Tantra Labs’ Research Strategist, Nik Bhatia, featured on What Bitcoin Did podcast, to support Bitcoin as an answer against centralised […] The post Bitcoin’s liquidity makes it similar to gold: OpenNode’s Nik Bhatia appeared first on AMBCrypto.

2019-10-26 08:18


Institutions’ Long Position on Bitcoin Doubles, BTC Futures Surpasses the Spot Volume by 18 Times

It’s been a month now that Bitcoin's price has been boring, hovering around $8,000. As such, volatility has dropped below 2%. However, volatility might make a comeback soon as the difference between the upper and lower band in the Trading Envelope indicator gets to its narrowest since mid-September. A similar narrowing was seen last month […]

2019-10-23 16:03


Coin Wallet Interview: Team Reveals Largest Growth in Users are from India, Thailand, Vietnam

There are now more than 2,000 cryptocurrencies and hundreds of digital wallet service providers. While most online wallets work in similar ways, we recently asked the developer of Coin Wallet about the different features that their wallet offers and how it is able to support a large number of digital tokens. Bitcoin Exchange Guide: You've […]

2019-10-15 23:17


FINRA approves Grayscale DLC; basket includes Bitcoin, Ethereum, XRP

Grayscale Investments got a green light from FINRA for a publicly-quoted security that derives its value from a basket of digital currencies, similar to ETF. The news was made official through a press release, which read, “Shares of Grayscale® Digital Large Cap Fund (DLC) have received approval from FINRA for public quotation under symbol: GDLCF […] The post FINRA approves Grayscale DLC; basket includes Bitcoin, Ethereum, XRP appeared first on AMBCrypto.

2019-10-15 21:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Could Hit $1 Million on February 1st 2028, New Model Suggests

If bitcoin follows historical trends, it could tip $1 million by February 1st 2028. Based on extrapolating Timothy Peterson’s ‘never look back’ chart which tracks bitcoin’s lower troughs. The chart echoes Plan B’s ‘stock to flow’ model which puts BTC at $1 million near the end of the next decade.

Could Bitcoin Collapse By 25% to $6,000? GBTC Premium Implies So

As reported by NewsBTC yesterday, the Bitcoin (BTC) price has been relatively trendless as of late, falling under $8,300 after attempting to consolidate above $8,500. Some say that this non-volatility is an indicator that this market may soon break higher, looking to the fact that market trends, fundamentals, and the macro backdrop (semi-quantitative easing) have.