Bitcoin’s [BTC] current parabolic trajectory is similar to 2017 patterns, shows analysis

2019-6-5 03:30

Bitcoin’s [BTC] price fluctuation has been seen as a new marker in the cryptocurrency industry, with the movement of the world’s largest cryptocurrency also affecting the rest of the field. Another point that was raised by a lot of proponents of Bitcoin was the similarity in price patterns formed during the recent bullish hike, with the rally that happened towards the end of 2017.

DonAlt, a Bitcoin supporter, recently pointed out a parabolic pattern forming from the point when BTC started climbing just before the New Year, to the price drop that occurred over the past couple of days. This pattern was similar to the one formed during Bitcoin’s all-time high when the prices fell once and continued falling.

Source: Twitter

DonAlt tweeted,

“For the people that haven’t been around in a while:
This is what I’m referencing.
It’s a tiny version of this big boy.”

Source: Twitter

Users in the Bitcoin ecosystem have claimed that the pattern might be applicable just for the short-term and would not end up as the start of a crushing bear market, similar to the one in 2018. To put Bitcoin’s fluctuations into perspective, the ‘king coin’ has risen by 107 percent in the span of two months and June saw BTC fall from its hold near $8,900 to settle near $7,900. The price fall was significant as the cryptocurrency fell from $8,588 to $7,971 in the matter of a few hours.

At press time, BTC was trading at $7,982, with a total market cap of $141.602 billion. Even the market cap took a hit at the start of the new month because the world’s largest cryptocurrency breached the $150 billion mark earlier.

Bitcoin was also in the news after Andreas Antonopoulos, the author of Mastering Bitcoin, claimed that Bitcoin held the same disruptive capabilities as e-mail. He said,

“(Just like email technology), you will see many other applications emerge from the other properties of the decentralized trust mechanism system.”

The post Bitcoin’s [BTC] current parabolic trajectory is similar to 2017 patterns, shows analysis appeared first on AMBCrypto.

origin »

Bitcoin (BTC) на Currencies.ru

$ 95857.24 (+0.21%)
Объем 24H $27.524b
Изменеия 24h: -0.46 %, 7d: -2.01 %
Cегодня L: $95182.65 - H: $96282.9
Капитализация $1900.463b Rank 1
Цена в час новости $ 7709.43 (1143.38%)

bitcoin btc patterns cryptocurrency analysis price 2017

bitcoin btc → Результатов: 126


Bitcoin Market Dominance Faces a Challenge as This AI Altcoin is Set for 22,000% Gains

Many were left stunned after seeing Bitcoin (BTC) achieve milestone upon milestone but witnessing altcoins like Ethereum (ETH), Ripple (XRP), and Cardano (ADA) fail to pump by a meaningful amount. Now, after three straight months of Bitcoin (BTC) dominance, it seems the altcoin market is ready to push back with a major inflow of investments [...]

2025-2-12 02:00


MicroStrategy Strikes Again: $100 Million Bitcoin Purchase Signals Strong Market Confidence

MicroStrategy, the major enterprise software company that has evolved into a Bitcoin (BTC) investment platform, has captured attention once again with its latest purchase of $101 million in BTC. The company, led by chairman and co-founder Michael Saylor, has committed to utilizing perpetual preferred stock, common shares, and debt to fuel its ongoing Bitcoin purchasing strategy.

2025-1-7 06:00


Фото:

El Salvador now holds 6,000 BTC: can Bitcoin success story sustain?

El Salvador, the pioneering nation that made Bitcoin legal tender in 2021, has surpassed 6,000 BTC in its treasury, valued at $561.3 million as of the latest update. This milestone represents not only a strategic accumulation effort but also a bold economic experiment under President Nayib Bukele’s leadership. With a 105% unrealised return on its […]

2024-12-30 09:51


Фото:

El Salvador rings in Christmas 2024 with a Bitcoin twist

El Salvador continues to showcase its unwavering commitment to Bitcoin, doubling down on its cryptocurrency strategy despite stringent restrictions imposed by the International Monetary Fund (IMF). On 19 December 2024, the country purchased an additional 11 Bitcoin (BTC), valued at over $1 million, pushing its total reserves to nearly 6,000 BTC. This comes on the […]

2024-12-24 17:26


Фото:

Bitcoin Rally Set To Extend? Expert Foresees A $110,000 Price Target For BTC

The general cryptocurrency community is brewing with excitement and optimism following Bitcoin’s rally to a new all-time high on Monday. Despite the significant price growth, there are speculations that the uptrend may not be ending anytime soon, suggesting BTC’s potential for more increases to higher levels or milestones. Next Big Milestone For Bitcoin On The […]

2024-12-17 17:30